This paper investigates the quality of information on tax planning performance which is provided by financial accounting based on IAS 12 (Income taxes). A simple theoretical investment model is used to show that reported tax expenses can be misleading as an indicator of tax planning performance,...

Mit den im Steuervergünstigungsabbaugesetz vorgesehenen Steueränderungen soll im Wesentlichen durch mehr Steuergerechtigkeit und verbesserte Steuertransparenz die Akzeptanz der Besteuerung gefördert werden. Gleichzeitig sollen die Einnahmen der öffentlichen Haushalte auf eine sichere und...

Deutschland befindet sich inmitten einer intensiven Debatte über die Unternehmensbesteuerung, deren treibende Kraft der internationale Steuerwettbewerb ist. Sind die Unternehmenssteuern in Deutschland tatsächlich zu hoch? Wie sollte eine Reform der Unternehmensbesteuerung ausgestaltet sein?

Derzeit werden zwei Konzepte für die im Jahr 2008 geplante Reform der Unternehmensbesteuerung diskutiert: zum einen die Duale Einkommensteuer des Sachverständigenrates in Zusammenarbeit mit dem Max Planck-Institut für Geistiges Eigentum, Wettbewerbs- und Steuerrecht sowie dem Zentrum für...

Taxing capital gains is an important obstacle to the efficient allocation of resources because it imposes a transaction cost on the vendor which locks in appreciated assets by raising the vendor's reservation price in prospective transactions. For M&As, this effect has been intensively studied...

Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiency due...

Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...

Repatriation taxes reduce the competitiveness of multinational firms from tax credit countries when bidding for targets in low tax countries. This comparative disadvantage with respect to bidders from exemption countries violates ownership neutrality, which results in production inefficiencies...

This paper analyzes the role of Thin-Capitalization rules for capital structure choice and investment decisions of multinationals. A theoretical analysis shows that the imposition of such rules tends to affect not only the leverage and the level of investment but also their taxsensitivity. An...

This paper analyzes the impact of taxes and lending conditions on the financial structure of multinationals' foreign affiliates. The empirical analysis employs a large panel of affiliates of German multinationals in 26 countries in the period from 1996 until 2003. In accordance with the...