Penelitian Pajak 15032018
Riset in
Taxation
Agenda
Taxation in Indonesia
Research in Taxation
Paper Discussion
2
Taxation
In Indonesia
Pengertian Pajak
Prof. Dr. Rochmat Soemitro, S.H
iuran rakyat kepada kas negara berdasarkan undangundang (yang dapat dipaksakan) dengan tidak mendapat
jasa timbal (kontraprestasi), yang langsung dapat
ditunjukkan dan yang digunakan untuk membayar
pengeluaran umum
(Dasar-dasar hukum pajak dan
pajak pendapatan 1990:5)
4
Definisi Pajak
• Dipungut berdasarkan undang-undang
• Tidak menunjukkan adanya kontraprestasi
• Dipungut negara baik pemerintah pusat dan daerah
• Diperuntukkan pengeluaran pemerintah public
investment
• Mempunyai tujuan lain reguler
5
Mengapa Belajar Pajak ??
Kewajiban
Individu
Pertumbuhan
ekonomi
(Makro)
PAJAK
Kewajiban
Perusahaan
(AK)
Penerimaan
Negara (ASP)
6
Pajak dalam Laporan Keuangan
Laporan posisi keuangan
Laporan laba rugi
Arus kas
7
Pajak dalam Laporan Keuangan
Catatan atas Laporan keuangan
8
Ilustrasi Pajak Perusahaan
LABA RUGI
Laba sebelum pajak xxx
Pajak kini (current tax)
(xxx)
Pajak tangguhan (deferred tax) xxx
Laba tahun bjln dari operasi dilanjutkan
Kerugian/pendapan operasi dihentikan
Laba tahun berjalan xxx
Penghasilan komprehensif lain
xxx
Pajak penghasilan terkait
(xxx)
Total laba komprehensif xxx
Laba yang dapat diatribusikan kepada:
Pemilik entitas induk xxx
Kepentingan non pengendali
xxx
xxx
xxx
NERACA
Aset Pajak Tangguhan xxx atau
Liabilitas Pajak Tangguhan
xxx
9
Pajak dalam APBN 2018
10
Pertumbuhan Penerimaan Pajak
Penerimaan Pajak
Dalam Triliun Rp
Pertumbuhan per tahun
Tax Ratio
Arti sempit: hanya pajak saja
Arti luas: termasuk SDA Migas dan minerba
11
Komposisi Penerimaan Pajak APBN 2017
12
Komposisi Pajak dan Tax Amnesty
13
Pajak Perusahaan
Dipotong
PPh 23 atas
penghasilan
jasa
Penghasilan
Beban yang dapat
dikurangkan
Badan
PBB
Meterai
BPHTB
Pajak
Daerah
Penghasilan kena
pajak
Lapo
r
KPP
X tarif pajak
Pajak terutang 1thn
fiskal
Kredit pajak
• Angsuran pajak
Memoton
g PPh 21
atas gaji,
PPh 23
atas
jasa
PPN atas
penyerah
an
barang/ja
sa
Setor
Kas
negara
14
Perbedaan Pajak dan Akuntansi -1
PSAK
UndangUndang
AKUNTANSI
PAJAK
PERBEDAAN
Permanen
Penelitian:
Book tax Gap
Eff Tax Rate
Temporer
Pajak Tangguhan:
Aktiva/utang
Beban/Pendapatan
15
UU PAJAK PENGHASILAN (UU 36/2008)
Perubahan keempat dari UU 7/1983
Subyek Pajak
Obyek Pajak
• Obyek; bukan obyek; pengurang dan bukan pengurang
Cara Menghitung Pajak
• Tarif, struktur modal, harga transaksi, revaluasi
Pelunasan pajak dalam Tahun Berjalan
• PPh 21; 22; 23; 24; 25
Perhitungan pajak akhir tahun
• PPh 28; PPh 29
16
Subjek Pajak
Pasal 2 Ayat (1 dan 1a)
Orang Pribadi (OP)
Warisan yang belum terbagi sebagai
satu kesatuan, bersifat
menggantikan yang berhak.
Badan
Bentuk usaha tetap (BUT),
merupakan subyek pajak yang
perlakuan pajaknya dipersamakan
dengan subyek pajak badan.
17
Definisi Penghasilan
Pasal 4 Ayat (1)
Merupakan setiap tambahan
kemampuan ekonomis yang:
- Diterima atau diperoleh wajib pajak.
- Berasal dari Indonesia maupun dari
luar Indonesia.
- Dapat dipakai untuk konsumsi atau
untuk menambah kekayaan wajib
pajak.
Dengan nama dan dalam bentuk
apapun
18
UU PPN & PPnBM (UU 42/2009)
Perubahan keempat dari UU 8/1983
Pengukuhan pengusaha kena pajak
Kewajiban melaporkan usaha, memungut dan
menyetor dan melaporkan pajak terutang
Obyek Pajak
Tarif dan Cara Menghitung Pajak
Saat dan tempat terutang
Laporan Perhitungan pajak
Ketentuan Khusus - pemungut
19
KETENTUAN UMUM TATA CARA PERPAJAKAN
FISKUS
WAJIB PAJAK
c
Pembukuan/
Pencatatan
c
Pendaftaran
(NPWPNPPKP)
Pemeriksaa
n
Penetapan
(SKP)
Keberatan
Pembayaran
(SSP)
Banding
Pelaporan
(SPT)
BPP
MA
Kasasi
20
Pembukuan dilakukan Berdasarkan
Standar Akuntansi Indonesia
Pernyataan Standar Akuntansi Keuangan - PSAK
Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas
Publik signifikan - SAK-ETAP
Standar Akuntansi Entitas Mikro Kecil Menengah - SAK
EMKM
Standar Akuntansi Syari’ah – SAK Syariah
Standar Akuntansi Pemerintahan – SAP PP 71 tahun 2010
IFRS hanya diadopsi PSAK full 2012. Tahun 2013 dilakukan revisi standar dan
ditambahkan standar baru 65, 66, 67, 68 yang efektif pada 2015.
Pada 2015 dikeluarkan PSAK 69 Agrikultur dan revisi beberapa standar.
Pada tahun 2016 dikeluarkan PSAK 70 dan PSAK 71 & PSAK 72. Tahun 2017
PSAK 73 efektif berlaku pada 2020
SAK ETAP dikeluarkan tahun 2010, dan 2016 dikeluarkan SAK EMKM
Pada 26 Mei 2016: Revisi PSAK 108 Akuntansi Transasi Asuransi Syariah dan
PSAK 101 LK Syariah
21
Research in
Taxation
Riset pajak di Indonesia
• Kebijakan perpajakan :
– Kepatuhan WP terhadap peraturan pajak
– Tax gap = antara potensi pajak dengan jumlah pajak yang telah
masuk baik dari sisi obyek maupun subyek
– Pengenaan pemotongan pajak
– Implikasi kebijakan perpajakan
• Tax amnesty, Revaluasi aset
• Reformasi pajak: E-filling; E-billing
• TP Doc
– Pajak dan perekonomian
• Trend Penerimaan pajak
• Tarif pajak dan kompetisi ekonomi
23
Riset Perusahaan
• Pengungkapan Akuntansi Pajak penghasilan
– Pengaruh pajak terhadap cost of debt and capital
– Ketaatan perusahaan memenuhi kewajiban
pajak
– Pajak dalam laporan keuangan book tax
difference; earning management; pajak
tangguhan.
– Tax management, tax avoidance, tax evasion
– Pajak internasional transfer pricing, heaven
countries, thin capitalization
• Book tax different:
– Penyebab Time & Permanent (tax planning) – aset tetap, foreing
operation, debt
– Potensi rekonsiliasi fiskal untuk earning management.
– Dampak Book tax gap terhadap persistensi laba, nilai perusahaan.
24
Perilaku
• Penghindaran pajak (persepsi, laporan keuangan)
– Faktor yang mempengaruhi penghindaran
pajak
• Penelitian experiment terkait perilaku penghindaran pajak
• Ketaatan pajak
– Faktor yang mempengaruhi etika,
kepercayaan pada pemerintah, religuisitas.
• Etika dalam perpajakan data primer
25
Penelitian Pajak
• Penelitian pajak sebelum pertengahan 1980 menurut
Shackelford dan Shevlin (2001) dikategorikan menjadi:
– legal research, mengevaluasi efek pajak pada transaksi
exogenous, dan biasanya dipublikasikan pada jurnal hukum; dan
– policy studies, mengevaluasi distribusi atau efisiensi efek pajak,
biasanya dipublikasikan di jurnal akuntansi publik.
• Riset banyak dijumpai dalam jurnal akuntansi seperti TAR,
JAR, JAE.
• Riset pajak bersifat multidisipliner sehingga dikaitkan
dengan makro ekonomi, perilaku, kebijakan publik
National Tax Journal, Journal of Public Econmics, Journal of
Accounting and Public Policy
26
Penelitian Pajak
• Paper pajak dalam tiga jurnal akuntansi terkemuka.
27
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Shevlin (1999)
– Riset kebijakan bagaimana pajak meningkatkan
aktivitas ekonomi, mendistribusikan kekayaan dan
bagaimana meningkatkan pajak. Evaluasi atas
kebijakan pajak apakah dapat mencapai tujuannya.
(JATA & NTJ)
– Perencanaan pajak bagaimana individu dan
perusahaan merespon peraturan pajak.
– Kepatuhan pajak judgemnet and decision making
sehingg banyak dipengaruhi oleh bidang psikologi
28
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Shacklelford dan
Shevlin (2001)
– Trade off pajak dan non pajak Perencanaan pajak
mempengaruhi pilihan akuntansi keuangan dan pertimbangan
akuntansi keuangan mempengaruhi perencanaan pajak (tidak
independen)
• Pelaporan keuangan (inventory, intertemporal income shifting,
• Agency cost
– Pajak dan penilaian saham dampak pajak atas M&A, capital
structure, pengaruh pajak investor terhadap harga saham
– Multijurisdictional perusahaan multinasional dan perusahaan
multistate
29
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Hanlon dan Heitzman
(2010) :
– peran informasi beban pajak penghasilan perbedaan antara
laba akuntansi dengan penghasilan kena pajak terkait dan
implikasinya terhadap pelaporan keuangan;
– tax avoidance (penghindaran pajak) perusahaan;
– efek pajak terhadap pengambilan keputusan perusahaan
termasuk investasi, struktur modal, dan bentuk organisasi, serta
kebijakan pajak mana yang efektif dilihat dari implikasi nyatanya
terhadap keputusan perusahaan.
– pajak investor (investor level taxes) dan penilaian aset (asset
pricing) – terkait riset mengenai dampak dari pajak dividen untuk
investor dan pajak atas capital gains
30
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian akuntasi pajak menurut Graham et
al (2012) :
– earnings management valuation allowance, diskresi
pelaporan beban pajak,pendapan
– hubungan antara perbedaan nilai buku dengan nilai
pajak (book-tak differences) dengan
karakteristik/kualitas laba; dan
– Pengaruh informasi pajak terhapda nilai saham
31
Metodologi Penelitian Pajak
• Coyne (2010)
– Analitis
– Archival / empiris
– Eksperimental
– Metode lainnya
• Klasifikasi lain
– teoritis, normatif
– Behavioral / judgement and decision making
– Review / deskriptif
– Survey; studi lapangan
32
Research in Taxation
Methodology
• Experimental market
• Behavioral /judgment and
decision making – 40%
• Analythical
• Empirical – 50%
Top Accounting Journal & Taxation
• The Journal of American Taxation
Association (JATA)
• Journal of Accounting Review (JAR)
•
The Accounting Review (TAR)
•
Journal of Accounting and Economic
Classification
Tax Policy research effectiveness of
policy to achieve the goals
Tax planning research respond on tax
rule
Complience Research
33
Tax Research
34
Research in Tax Planning
35
TAX RESEARCH IN ACCOUNTING
D.A. Shackelford, T. Shevlin, Journal of Accounting and Economics
• This paper traces the development of archival, microeconomic-based,
empirical income tax research in accounting over the last 15 years.
• The paper details three major areas of research:
– the coordination of tax and non-tax factors,
– the effects of taxes on asset prices
– the taxation of multijurisdictional (international and interstate) commerce.
• Methodological concerns of particular interest to this field also are discussed.
• Research before 1980
– Legal research, evaluating the effects of taxes on
exogenous transactions, usually published in law
journals, and
– Policy studies, evaluating the distributional or
efficiency effects of taxes, usually published in public
economics journals.
36
Research Question
• Tax research has long attempted to address three
questions of scholarly and policy interest:
– Do taxes matter?
– If not, why not?
– If so, how much?
• Current tax research in accounting addresses these
questions using a framework developed by by Scholes
and Wolfson (SW, 1992).
37
Scholes–Wolfson paradigm
• Effective tax planning requires the [tax] planner to consider
the tax implications of a proposed transaction for all of the
parties to the transaction.
• Effective tax planning requires the planner, in making
investment and financing decisions, to consider not only
explicit taxes (tax dollars paid directly to taxing authorities)
but also implicit taxes (taxes that are paid indirectly in the
form of lower before-tax rates of return on tax-favored
investments).
• Effective tax planning requires the planner to recognize that
taxes represent only one among many business costs, and
all costs must be considered in the planning process: to be
implemented, some proposed tax plans may require
exceedingly costly restructuring of the business.’’ (SW, p. 2).
38
Scholes–Wolfson paradigm
• The three themes - All parties, all taxes, and all costs
provide a structure for tax management that achieves
organizational goals, such as profit or wealth maximization.
• The themes imply that tax minimization is not necessarily
the objective of effective tax planning.
• Effective tax planning must be evaluated in the efficient
design of organizations and through adoption of a
contractual perspective.
• The paradigm implicitly assumes that if all contractual
parties, all taxes (explicit and implicit), and all non-tax costs
can be identified and controlled, then the observed tax
behavior will be rational and predictable.
• No paper challenges the validity of the SW framework.
39
Tax and non-tax tradeoffs
• Financial reporting considerations
–
–
–
–
–
–
Inventory accounting
Compensation
Inter-temporal income shifting
Capital structure, divestitures and asset sales
Regulated industries
Other setting – accounting for depreciable asset
• Agency Costs
–
–
Compensation
Tax shelters
• Tax research in accounting examines the
coordination of taxes and other factors in
business decisions.
• Taxes cannot be minimized without affecting
other organizational goals.
• This review of the tradeoff literature is
dichotomized:
–
–
the interaction of financial reporting and tax factors
the effects of agency costs on tax minimization.
40
Taxes and assets prices
•
•
•
•
•
•
•
Merger and acquisition
Capital structure
Implicit taxes
Equity price and investor taxes
Dividends tax capitalization
Capital gains tax capitalization studies of equilibrium prices
Price pressure arising from capital gains taxes
41
Research in Taxation - methodology
• Methodology
– Experimental market
– Behavioral /judgment and decision making
– Analythical
– Empirical
• Classification
– Tax Policy research effectiveness of policy to achieve the goals
– Tax planning research respond on tax rule
– Complience Research
42
Suggestion Future Research
• First, the better research in the future will move beyond simply
documenting that taxes matter.
• Second, additional theoretical guidance is needed to move the literature
beyond SW and longstanding finance papers.
• Third, the methodological concerns raised in this paper imply that more
rigorous econometrics may be needed.
• Fourth, we anticipate tax research in accounting to better incorporate
knowledge from other areas, particularly finance and public economics.
• Fifth and closely related to the last development, tax research in
accounting should increasingly impact the tax research being
undertaken in finance and economics as the common interest across
disciplines is better recognized.
43
Suggestion
• We close with a few thoughts about potentially new areas
of research.
– First , strong links have been developed between financial
accounting and taxes.
– Second, a potentially understudied topic is accounting for income
taxes, which neither tax research nor financial accounting research
has closely evaluated.
– Finally, little is known about the potential cross-sectional
differences in the willingness of firms to avoid taxes.
• One determinant that has attracted attention is the extent
to which managers or other insiders control the firm.
44
Paper
Discussion
A Review of
Tax Research
Michelle Hanlon and Shane Heitzman,
Journal of Accounting and Economics
(2010) (50) 127-178.
46
Introduction
• Shackelford and Shevlin (2001) limit their review to research
published in accounting outlets and describe the development of
the relatively young archival, microeconomic-based income tax
literature that arose from the Scholesand Wolfson framework.
• Maydew(2001) emphasizes the need for tax researchers in
accounting to think more broadly and to incorporate more theory
and evidence from economics and finance.
• Tax research has along history in many disciplines.
• The goal in this paper is to integrate the theoretical and empirical
tax research from accounting, economics, and finance, to
summarize what is known and unknown, and to offer suggestions
for future research.
47
Review Tax Research
The informational
role of accounting
for income taxes
Taxes, book-tax
tradeoffs, and real
corporate decisions
Review Tax
Research
corporate tax
avoidance
Taxes and asset
pricing
48
Informational role of AFIT
A taxonomy of the literature
and review of the evidence
• Inferences from book-tax
differences about current
and future earnings.
• Are earnings managed
through the tax accounts?
• Do changes in the
valuation allowance reveal
manager’s private
information about future
performance?
Book-tax conformity
Sources of
differences
between book and
taxable income
The informational
role of accounting
for income taxes
Summary and
suggestions for
the future
49
Tax Avoidance
Theory of corporate tax
avoidance
• Tax system : tax rate
• Legal system &
governance
Measuring tax avoidance
Effective tax rate measures
• Effective tax rate
measures
• Long-run effective tax
rates
• Book-tax differences
• Discretionary or
‘‘abnormal’’ measures of
tax avoidance
• Unrecognized tax
• Tax shelter firms benefits
(UTB)
Determinants of tax
avoidance (firm
characteristic,
manager effects,
ownership,
governance,
incentives
corporate tax
avoidance
The consequences of
tax avoidance
• Direct: CF, Firm
Value
• Indirect: cap
structure decision
Summary and
suggestions for the
future
50
Pengukuran Tax Avoidance
Metode
Pengukuran
GAAP ETR
Cara Perhitungan
Current
Current ETR
ETR
Cash
Cash ETR
ETR
Long-run cash
Long-run cash
ETR
ETR
ETR
ETR
Differential
Differential
Statutory ETR- GAAP ETR
Statutory ETR- GAAP ETR
DTAX
DTAX
Error term from following regression : ETR
Error
term from
following
differential
x Pre-tax
bookregression
income = a: ETR
+b x
differential
x
Pre-tax
book
income
=
a
+b x
controls + e
controls + e
Sumber : Hanlon dan Heitzman (2010)
Keterangan
Total tax expense per dollar of
pre-tax book income
Current
Current tax
tax expense
expense per
per dollar
dollar
of
of pre-tax
pre-tax book
book income
income
Cash
Cash tax
tax paid
paid per
per dollar
dollar of
of
pre-tax
book
income
pre-tax book income
Sum of taxes paid per over n
Sum of taxes paid per over n
years divided by the sum of
years divided by the sum of
pre-tax earnings over n years
pre-tax earnings over n years
The differences of between
The
differences
of and
between
the statutory
ETR
the firm
the
statutory
ETR
and
the firm
´s GAAP ETR
´s GAAP ETR
The unexplained portion of the
The
ETRunexplained
differential portion of the
ETR differential
51
Tax Avoidance
Metode
Pengukuran
Total BTD
Temporary
BTD
Abnormal total
BTD
Unrecognized
tax benefit
Tax shelter
activity
Marginal tax
rate
Cara Perhitungan
Pre-tax book income – ((U.S. CTE + Fgn CTE /
U.S. STR) – (NOLt – NOLt-1))
Deferred tax expense/ U.S. STR
Keterangan
The total differences between
book and taxable incomes
A measure of unexplained
total book-tax differences
Disclosed ammount post-FIN-48
Tax liability accrued for taxes
not yet paid on uncertain
positions
Indicator variable for firms accused of engaging in Firms identified via firm
a tax shelter
disclosures, the press, or IRS
confidential data
Simultated marginal tax rate
Present value of taxes on an
additional dollar income
Sumber : Hanlon dan Heitzman (2010)
52
Tax & Corporate Decison
•
•
•
•
•
•
•
Investment
Theory of investment
and taxes: a brief
background
Taxes and
investment: some
evidence
Investment in
intangibles
Investment location
decisions
The reinvestment or
repatriation decision
Corporate inversions
to tax havens
Summary and
thoughts for future
research
•
•
•
•
Capital structure
Estimating the tax benefit
of debt
Measuring leverage
Summary and thought for
the future
Payout policy
Taxes, book-tax
tradeoffs, and real
corporate decisions
Taxes and other dec:
transfer pricing,
aquistioan and
compensation
Transfer pricing
Merger and
aquisition
Executive
compensation
Executive trading
Organizational form
The choice of
organizational form
Summary and thought
for future research
Tax & Aset Pricing
•
•
•
•
•
•
Deviden taxation
The economic effects of
dividen taxation: a brief
introduction
Log-horizon returns: the
effect of dividend yiled
on expected returns
Event study predictions:
the valuation of
dividend tax rate
change
Ex-devidend day study
Evidence from valuation
models
Summary
Thoughts for
future research
Investor-level
taxes and asset
prices
Capital gains taxation:
capitalization & lock-in
• Capital gains taxes and
expected return
• Stock market realization
and lock-in effect
Remaining issues and
Ques for future research
• How relevant the
marginal investor?
• Are dividend taxes
priced differently across
firms
• Asset pricing in the
open economy
Research in
Accounting for
Income Taxes
John R.Graham, Jana S.Raedy , Douglas
A.Shackelford
Journal of Accounting and Economics
(2011) Nov
The Rule Governing Accounting for Income Taxes
Temporary difference
Permanent Different
Uncertain tax contingent
Permanently reinvested foreign
earnings
Why Accounting of Income Taxes
Income Tax expense is significant expense
Tax accounts provide information to an
adversarial party
Tax account provide an alternative
measure of income
Tax expense is never included as
component of operating expense
Research in Accounting for Income Taxes
Earnings
management
Research in
Accounting for
Income Taxes
The association
between booktax differences
Earnings
characteristics,
and the equity
market pricing of
information in the
tax accounts.
Earning Management
Studies of earning
management via
discreation in
reporting the US tax
expense on foreign
profit
Studies of earning
management via the
valuation allowance
Earning
Management
Studies of earning
management via the
tax contingency
account
Other studies
Future research in
earning
management
Informational role of AFIT
•
Persistence of
tax information
– tax change
component or
earning
•
Earning quality
proxies
• BTD effects earning
growth
Association between
boot tax differences
and earning
characteristics
•
BRD and earning
persistence
Tax Avoidance
Deferred tax account
Empirical studies
Theoritical studies
Information content of
estimated taxable income
and book tax difference
Ass. Contemporaneous
return and BTD
Ass. future return and
estimated taxable
income
Tax
Contingency
The pricing of
tax information
reported in the
FS
Summary
Future research
in pricing of tax
information in
FS
Conclusion
• Tax on real corporate decesion difficult to document.
• Informational role of AFIT
– More detailed examination sources of books tax different
• Tax avoidance, gov obejctive : closer the gap, increase complience and collect
more revenue.
– Principle agent setting
– Tax authority and corporate governance system
– Theory and evidence causes and consequences of the tax avoidance
• Taxes are one factor that enter into management cost banefit management
decision
TAX REPORTING
AGGRESSIVENESS
AND ITS RELATION TO
AGGRESSIVE FINANCIAL
REPORTING
Mary Margaret Frank, Luann J Lynch and
Sonja Olhoft Rego (2009)
Tujuan dan Kontribusi
Tujuan
• Menguji validitas pengukuran Tax Reporting Aggressivenes
• Menguji Hubungan antara FRA dengan TRA
• Menguji Implikasi FRA dan TRA terhaaap kesejahteraan shareholder
Kontribusi
• Menemukan adanya hubungan positif yang kuat antara FRA dengan
TRA (Unexplore before)
• Mengembangkan pengukuran TRA yang mampu mendeteksi aktivitas
Tax Shelter
• Untuk pertama kali menguji pengaruh FRA dan TRA terhadap Future
Stock Return
• Mengukur TRA dengan Permanen Differences
Motivation of Study
Skandal
ENRON
Investigasi
kenaikan
FRA dan TRA
Perusahaan
Amerika
FRA :Financial Reporting Aggressiveness
TRA : Tax Reporting Aggressiveness
SEC: Securities & Exchange Commission
Treasury Dept
fokus pada
deteksi dan
tuntutan
Aktivitas Tax
Shelter
Motivation of Study
Trade off
Company
Financial
Statement
Income
Reported to
Tax Authorities
Motivation of Study
FINANCIAL
REPORTING
Book Tax
TRADE OFF
Extensive
Conformity
TAX
REPORTING
UPWARD
BOOK
INCOME
TAX
COST
DOWNWAR
D TAX
INCOME
FR
COST
Low Income to Share
Holder
THEORY
Trade
OFF
HIGHER
Book Income
To share Holder
Periode yang sama
LOWER
Taxable
Income
To Tax authorities
Motivation of Study
• Awal 1990an : US Corporation melaporkan Peningkatan
Perbedaan antara Income yang dilaporkan kepada Shareholder
VS Tax Authority.
• Indikasi tidak terjadi Trade Off terjadi Book Income Upward
and Taxable Income Downward periode yang sama
• Intinya : Peristiwa ini dimotivasi oleh Skandal Akuntansi yang
dicerminkan oleh Aggresiveness Tax Shelter Activity dan
Peningkatan Book Tax Gap
NO TRADE OFF
H1: Financial Reporting Aggressiveness Berpengaruh Positif
terhadap Tax Reporting Aggressiveness
Mengukur Tax Reporting Aggressiveness
Menggunakan Corporate Tax Planning Effectiveness dengan
proksi :
1. ETRs
2. Total Book Tax Difference
3. Cas ETRs
4. Discetionary Total BTD (Residual from Regrression)
Propose rely on PERMANEN
DIFFERENCES
Alasan menggunakan Premanen Differences
(bukan Total atau Temporary BTD)
1.
2.
3.
4.
5.
6.
Penelitian terdahulu temporary BTD mencerminkan
Manajemen Laba melalui
Pretax Accruals (mis: Philips et all,
2003) Hubungan Palsu untuk proksi FRA. (472)
Cash ETR Hubungan Palsu dengan FRA
Permanent Difference Dollar, sedangkan ETRs dalam
persentase Permanen Difference lebih Comparable to Total
Acrual
Untuk mengukur TRA Permanen Difference lebih Konsisten
dengan menganggap ‘Nature’ aktivitas tax shelter agresif
5 dari 8 Tax Shelter generates Permanent Different (Wilson,
2009)
Total BTD, Cash ETRs tidak mengontrol Non Discresionary item
(mis: intangible, PPE) yang bisa menyebabkan baik temporary
maupun permanent different.
Alasan menggunakan Premanen Differences
(bukan Total atau Temporary BTD)
•
Intinya : penelitian ini mengeluarkan Tax Planning yang Menggenerate
Temporary Different (472)
•
Walaupun Permanent Different lebih baik namun tidak
mempetimbangkan beberapa item terkait TRA, seperti: State Income
Taxe, Tax Credit, Change in tax cushion dan Change in valuation
Allowance account.
Penelitian ini mengestimasi Discresionary Permanent Different (DTAX)
Dengan meregresi Total permanen Different on Non Discresionary item
yang menyebabkan Permanen Different (mis:intangible) dan other
statutory adjustment (mis:state tax).
•
•
Validasi pengukuran TRA
• DTAX sebagai proksi TRA dihitung dengan cara:
• Dengan mengontrol nondiscresionary item yang tidak berhubungan dengan
Tax Planning yang menyebabkan Permanent Different dan Other Statutory
Adjustment
• Untuk External Validity Link it to sampel perusahaan menurut Graham and
Tucker (2006) ttg perusahaan yang melakukan Tax Shelter.
• Sampel perusahaan yang melukan tax sheltering melawan pemerintah
Model 2
Memasukkan variabel lain yang berhubungan dengan Tax
Planning:
PTROA = Profitability (PTROA),
NOL_D = Net Operating Loss Carry Forward
FOR_D = Foreign Operation
SIZE
= Firm Size
• ‘tanda’ dan signifikansi koefisien DTAX bertujuan untuk menunjukkan
kemampuan DTAX dalam menjelaskan aktivitas tax shelter
• Alternatif pengukuran (Logit Regresion) membandingkan kemampuan
masing-masing variabel dalam menjelaskan aktivitas tax shelter dengan
kemampuan DTAX
• Antara lain:
• DTAX = Discresionary Permanent Different
DD = Residual dari Pooled Crossed Sectional
Regresion dari Total BTD on Total Accrual
DD= TRA by Desai & Dharmapala (2006)
• Keunggulan DTAX sebagai alternatif Pengukuran adalah:
1. Mampu mengeluarkan Temporary Different yang merefleksikan
earning management
2.
Mengontrol Non Discresionary Source of Permanent
Kelemahan: Tidak mampu merefleksikan aktivitas Tax Shelter yang mengenerate- temporary different (spt:Lease In Lease Out-LILO)
Arrangement
Hasil estimasi model 2 mengukur TRA
Hasil estimasi model 2 menukur TRA
Relation Between FRA & TRA
• Pengukuran FRA.
• Proksi FRA= Performance-Matchd discretionary Accruals (DFIN)--> Kothari
et al (2005)
• Menggunakan Modified Jones Model (dechow et al, 1995) Model 3
Robustness Test
• Perubahan pada tax cushion are terrefleksi pada permanent BTD and
berpotensi menambah measurement error untuk mengukur TRA
• mengontrol lagged permanent differences (LAGPERM) in dalam perhitungan
DTAX menghilangkan sejumlah TRA
• DTAX tidak secara langsung merefleksikan tax planning activity yang
menghasilkan temporary different
• CONSISTENTLY FIND A POSITIVE AND SIGNIFICANT RELATION
BETWEEN FINANCIAL AND TAX REPORTING AGGRESSIVENESS
Implikasi FRA bagi kesejahteraan
Shareholder
KESIMPULAN
• A strong positive relation between financial and tax reporting
aggressiveness
• Insufficient cost exist to offset basic financial and tax reporting incentives,
such that nonconformity between financial accounting standards and tax
allows firms to manage book income upward and taxable income downward
in the same reporting period
• Stock return analysis confirms that investor do not fully incorporate the
information in discretionary accrual into stock price and reveals that much
investor mispricing is attributable to a hedge portfolio based on measure of
tax aggressiveness for firms with the most aggressive financial reporting
Home Country Tax System
Characteristics
and Corporate Tax Avoidance:
International Evidence
T. J. Atwood; Michael S. Drake; James N.
Myers & Linda A. Myers
THE ACCOUNTING REVIEW Vol. 87, No. 6,
2012, pp. 1831–1860
Ruang Lingkup & Tujuan
Penelitian
Karakteristik Sistem Pajak
Tax Avoidance
kesesuaian antara laba
akuntansi dengan laba fiskal
(book tax conformity - BTC)
Pendekatan Worldwide vs
territorial
Diartikan sebagai segala upaya yang
menyebabkan terjadinya perbedaan
antara jumlah pajak sesuai dengan
tarif yang berlaku dengan jumlah
pajak yang dibayarkan oleh
perusahaan
(Dyreng et al. 2008)
Persepsi terhadap enforcement
Variabel Moderasi
Insentif Managerial
Komponen Akrual
Variabel Kontrol
Performance, size, operating costs,
leveraga, growth, presence of
multinational operations dan
insdutry
Statutory corporate tax rates,
earnings volatility dan institutional
factor
Motivasi & Kontribusi
Penelitian
Reformasi Pajak di AS untuk
meningkatkan penerapan book-tax
conformity (Desai, 2005)
Penggunaan pendekatan teritorial
(Avi Yonah, 2010)
Perlunya penegakan hukum dalam
pajak (Shulman, 2009)
Tindak lanjut atas penelitian
sebelumnya yang meneliti tentang
faktor-faktor yang mempengaruhi
tax avoidance (Hanlon dan
Heizman, 2010)
Penelitian sebelumnya kebanyakan
hanya berfokus pada salah satu
negara (Hanlon dan Heizman,
2010)
Literatur : Menggambarkan variasi
cross-section atas tax avoidance
(lintas negara).
Pembuat Kebijakan (Pemerintah):
Dalam rangka menentukan/
menegakkan regulasi perpajakan
Investor : Dalam rangka
menginterpretasikan/
membandingkan
Pengembangan Hipotesis 1
Terdapat fleksibilitas perbedaan
pelaporan laba kena pajak fiskal
dengan akuntansi pada setiap
perusahaan di berbagai negara
(Atwood et al.2010)
Perusahaan pada
Home Country
Required
Book-Tax
Conformity
Tax avoidance yang dilakukan
oleh manajer akan berkurang
dengan adanya peningkatan
kewajiban penerapan tax–book
conformity di AS (Desai, 2005)
Tax
Avoidance
Pengembangan Hipotesis 2
Perusahaan induk di negara yang
menganut pendekatan territorial akan lebih
diuntungkan jika mengalihkan laba ke
negara yang low enforcement karena
deviden yang diterima dari anak
perusahaan di luar negeri secara
permanen dapat dibebaskan dari pajak
pada home country, sedangkan pada
negara yang menganut pendekatan
worlwide, pengalihan tersebut hanya
bersifat penangguhan pada home country
(Hicks, 2009)
Perusahaan multinasional pada home
country yang menganut pendekatan
territorial cenderung menggeser
pendapatan pada afiliasi asing
dibandingkan perusahaan pada home
country yang menganut pendekatan
worldwide (Markle, 2010)
Tax Avoidance
oleh
Perusahaan
Home Country
Menggunakan
Pendekatan
Territorial
V
s
Home Country
Menggunakan
Pendekatan
Worldwide
Pengembangan Hipotesis 3
Hukuman yang dikenakan langsung
kepada manajer akan lebih efektif dalam
mengurangi tax avoidance dibandingkan
jika hukuman dikenakan kepada
korporasi (Crocker dan Slemrod, 2005)
Probabilitas pemeriksaan pajak yang
tinggi meningkatkan kualitas akrual dan
posisi pajak perusahaan publik kurang
agresif (Slemrod, 2004)
Menyusul peningkatan penegakan
hukum perpajakan di Rusia,
pembayaran pajak meningkat,
perdagangan dengan pihak terkait
dibatasi dan entitas tax haven
ditinggalkan (Desai, 2007)
Tax Avoidance oleh
Perusahaan
Berdomisili di
Negara Low
Enforcement
Vs
Berdomisili di
Negara Strong
Enforcement
Pengukuran Tax Avoidance
(Dyreng, 2008)
Model Tax Avoidance
Pengukuran Required Tax-Book
Conformity (BTaxC) : (Atwood et al.
2010)
Kaidah Keputusan (Lihat Model Tax
Avoidance ):
H1 = Jika BTaxC TaxAvoid (Negatif /α1 < 0)
H2 = Jika WW Tax Avoid (Negatif /α2 < 0)
H3 = Jika TaxEnf Tax Avoid (Negatif /α3 < 0)
Model Tax Avoidance dengan Incentive
Compensation
Ekspektasi Peneliti:
Terdapat perbedaan koefisien antara kategori High
dan Low.
Model Tax Avoidance dengan Accruals Components
WC = Current operating assets – Current operating liabilities
NCO = Noncurrent operating assets – Noncurrent operating liabilities
FIN = Financial assets – Financial liabilities
Richardson et al. (2005)
Ekspektasi Peneliti:
Terdapat pengaruh positif antara TaxAvoid dengan
accruals.
SAMPEL DAN DATA
Sampel diperoleh dari semua perushaan yang terdaftar pada Compustat
Global Industrial/Commercial data base dari tahun 1993-1997
kriteria yang digunakan untuk menentukan sampel dalam penelitian adalah :
• Pertama penulis membatasi sampel sebanyak 33 negara sebagaimana
penelitian Atwood et al. (2010) untuk dapat mengestimasi required book-tax
conformity.
• Kedua penulis membatasi sampel sebanyak 22 negara sebagaimana
penelitian Towwers Parrin (2005) untuk dapat mengestimasi CEO Variabel
pay
• Laporan laba rugi perusahaan selama tiga tahun yang memiliki laba
positive sebelum pos luar biasa untuk menghitung tax aggressiveness.
• Menghapus perusahaan dari negara-negara yang tidak memiliki
sedikitnya 20 perusahaan.
Setelah dilakukan seleksi terhadap sampel diperoleh total akhir sampel
sebanyak 69.301 perusahaan dari 22 negara.
TABLE 1
Sample Composition and Median Characteristics by Country
TABLE 1 (Lanjutan)
HASIL PENELITIAN
1.
2.
Penelitian ini menggunakan permodelan regresi karena tujan dari
penelitian ini adalah untuk mengetahui hubungan yang terjadi
antara variabel terikat dengan satu atau lebih variabel bebas.
Teknik pengolahan data yang digunakan dalam penelitian ini yaitu
menggunakan regresi data panel.
Sebelum dilakukan regresi, terlebih dahulu penulis melakukan uji
collinearity dan multikolinearitas dengan melakukan pemeriksaan
terhadap nilai Variance Inflatation Faktor (VIF), dan setelah diuji
hasil menunjukkan tidak terjadi masalah multikolinearitas
TABLE 2
Descriptive Statistics and Correlations
TABLE 2
Descriptive Statistics and Correlations
TABLE 2 (Lanjutan)
TABLE 3
Tax Avoidance Regressions
TABLE 4
Tax Avoidance Regressions with Equity
Compensation Interactions
TABLE 5
Tax Avoidance Regressions with Controls for
Accruals Components
TABLE 5 (Lanjutan)
Analisis Sensitivitas
Dalam memperkuat bukti penerimaan hipotesis maka dilakukan
robustness tests dengan menggunakan beberapa sampel penelitian:
1. Pengujian dengan menggunakan keseluruhan sampel untuk
melihat pengaruh penghindaran pajak dengan variabel yang
digunakan adalah laba sebelum pajak sebelum pos luar biasa dan
menghasilkan data yang signifikan.
2. Melakukan uji antara penghindaran pajak dengan karakteristik
sistem pajak dengan mengurangi sampel perusahaan
multinasional diperoleh hasil BTaxC dan TaxEnf signifikan namun
koeefesien WW tidak signifikan.
3. Melakukan uji hanya memasukkan perusahaan multinasional
diperoleh hasil WW dan TaxEnf signifikan, BTaxC memiliki
hubungan negatif dengan tax avoidance.
KESIMPULAN
1.
2.
3.
4.
Tujuan penelitian adalah untuk menguji Bagaimana pengaruh karakteristik
sistem pajak yaitu kesesuaian antara laba akuntansi dengan laba fiskal (book
tax conformity - BTC) dengan pendekatan teritorial dan worldwide dan
penegakan hukum pajak terhadap penghindaran pajak (Tax Avoidance).
Hasil penelitian menunjukkan bahwa perusahaan-perusahaan dinegaranegara yang memiliki karakteristik BTC rendah dan penegakan hukum yang
rendah cendrung melakukan penghindaran pajak.
Penghindaran pajak juga berhubungan dengan karakteristik perusahaan di
suatu negara dalam menerapkan sistem kompensasi terhadap manajemen
yang terkait dengan variabel gaji (seperti bonus, saham, dan opsi saham).
Hasil penelitian menunjukkan bahwa, selain faktor spesifik perusahaan yang
menjadi variabel independen pada penelitian sebelumnya yaitu performance,
size, intangibles, debt financing, dan precence of multinational operations
yang memiliki pengaruh terhadap penghindaran pajak, ternyata penghindaran
pajak didorong oleh karakteristik sistem pajak di suatu negara dan interaksi
antara karakteristik dan struktur kontrak kompensasi manajemen.
IMPLIKASI PENELITIAN
Penelitian ini memberikan kontribusi pada:
1. Otoritas pajak (negara)
Memberikan kontribusi dalam terkait dengan upaya yang dilakukan
oleh suatu negara untuk meminimilisasi penghindaran pajak yaitu
diantaranya dengan cara:
a. Negara harus melaksanakan penegakan hukum yang kuat.
b. Lebih memperhatikan kebijakan yang berhubungan dengan
kesesuaian antara antara laba akuntansi dengan laba fiskal
(book tax conformity - BTC)
2. Perusahaan lebih memperhatikan kontrak kompensasi dengan
manajemen karena hal tersebut dapat berdampak pada terjadinya
tax avoidance.
Overview Tax Research
• A review of Tax Research, Michelle Hanlon and Shane Heitzman,
Journal of Accounting and Economics (2010) (50) 127-178.
• Research in accounting for income taxes, John R.Graham, Jana
S.Raedy , Douglas A.Shackelford Journal of Accounting and
Economics (2011) Nov. 412-434.
• The Future of tax Reserach: From an Accounting Proffessor’s
Perspective, Terry Shevlin, the Journal of the American Taxation
Association, Fall 2007; 87
• Empirical tax research in accounting Douglas, “A.Shackelford, Terry
Shevlin, Journal of Accounting and Economics (2001) 321-387.
BTD & ETR
• Determinants of the Variability in Corporate Effective Tax Rates,
Evidence from Longitudinal Data, Sanjay Gupta and Kaye Newberry,
Journal of Accounting and Public Policy, 16, (1997), 1-34.
• Tax Avoidance: Does Tax-Specific Industry Expertise Make a
Difference?, Sean T. McGuire, Thomas C. Omer, Dechun Wang, The
Accounting Review, Vol. 87, No. 3, 2012, pp. 975–1003.
• Determinants of the variability in corporate effective tax rates and tax
reform: Evidence from Australia, Grant Richardson, Roman Lanis,
Journal of Accounting and Public Poliy, 26, 689-704.
120
BTD & QUALITY OF INCOME
• Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings
Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting
Review, Vol. 87, No. 1 (2012), pp. 91–120
• Taxable Income as a Performance Measure:The Effects of Tax Planning and
Earnings Quality, Benjamin C. Ayers, John Xuefeng Jiang and Stacie K Laplante,
Contemporary Accounting Research, Vo 26, No 1 (Spring 2009) pp. 15-54
• The Persistence and pricing of earning accrual, and cash flows when firms have
large book tax difference, Michelle Hanlon, The Accounting Review, Vol 80 No 1,
(2005) pp 137-166.
• The Persistence, Forecasting and Valuation Implication of Tax Change
Component of Earnings, Ancrew P. Shmidt, The Accounting Review, May
2006:81
• An uninteded consequence of book-tax conformity: A loss of earnings
informativeness, Michelle Hanlon, Edward L. Maydew, Terry Shevlin, Journal of
Accounting and Economics 46 (2008) 294-311.
BTD & ASET PRICING
• Uday Chandra and Byung T. Ro, The Association between Deferred
Taxes and Common Stock Risk, Journal of Accounting and Public
Policy, 16, 311-333 (1997)
Tax Avoidance & Earning Management
• Can book–tax differences capture earnings management and tax
Management? Empirical evidence from China, Tanya Tang, Michael Firth, The
International Journal of Accounting 46 (2011) 175–204.
• Tax Reporting Aggressiveness and Its Relation to Aggressive Financial
Reporting, Mary Margaret Frank, Luann J. Lynch, Sonja Olhoft Rego, The
Accounting Review, 2009, Vol 84 No 2 pp.467-496
• Creating a Bigger Bath Using the Deferred Tax Valuation Allowance,
Theodore E. Christensen, Gyung H. Paik and Earl K. Stice,Journal of
Business Finance & Accounting, 35(5) & (6), 601–625, June/July 2008.
• Earning Management: New Evidence Based on Deferred Tax Expense, John
Philips and Porton Pincus, Sonja Ofhoft Rego, The Accounting Review, Apr
2003:78.
• Dhaliwal, D., C Gleason, dan L. Mills. (2004). Last chance earnings
management: using the tax expense to meet analysts’ forecasts,
Contemporary Accounting Research 21 (2): 431-457.
Tax Behavior
• The impact of audit risk, materiality and severity on ethical decision making: An
analysis of the perceptions of tax agents in Australia, Rex Marshall, Malcolm
Smith, Robert Armstrong, Managerial Auditing Journal, 21 5, 2006, 497-519
• Social responsibility, Machiavellianism and tax avoidance: A study of Hong
Kong, tax professionals, William E. Shafer, Richard S. Simmons, Accounting,
Auditing & Accountability Journal, Vol. 21 Iss: 5, (2008), pp. 695 – 720.
• The importance of faith: Tax Morale and religiosity, Benno Torgler, Journal of
Economic Behavior & Organization, 2006:81-109
• A Note on the Relation between Frames, Perceptions, and Taxpayer Behavior,
Scot B. Jackson and Richard C. Hatfield, Contemporary Accounting Research
Vol. 22 No. 1 (Spring 2005) pp. 145-64
Tax Avoidance, CG, CSR
• Tax avoidance, tax management and corporate social responsibility,
Fariz Huseynov, Bonnie K. Klamn, Journal of Corporate Finance, 18
(2012), 804-827
• Minnick, Kristina dan Tracy Noga. (2010). Do Corporate Governance
Characteristics Influence Tax Management?. Journal of Corporate
Finance, 16, 703-718
International Tax
• The determinants of thinly capitalized tax avoidance structures: Evidence
from Australian firms, Grantley Taylora, Grant Richardsonb, Journal of
International Accounting, Auditing and Taxation 22 (2013) 12– 25.
• The demand for tax haven operations, Mihir A. Desai, C. Fritz Foley, James
R. Hines Jr. Journal of Public Economics 90 (2006) 513– 531.
• International Corporate Tax Avoidance Practices: Evidence from Australian
Firms, Grantley Taylor and Grant Richarson, The International Journal of
Accounting, 47 (2012) 469–496.
• Cross-Jurisdictional Income Shifting by U.S. Multinationals: Evidence from
International Bond Offerings Kaye J. Newberry; Dan S. Dhaliwal Journal of
Accounting Research, Vol. 39, No. 3. (Dec., 2001), pp. 643-662.)
Book Tax Gap
The Persistence and pricing of earning accrual, and cash flows when
firms have large book tax difference, Michelle Hanlon, The Accounting
Review, Vol 80 No 1, (2005) pp 137-166.
Book Tax Gap
Tax Avoidance, Large Positive Temporary Book-Tax Differences, and
Earnings Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson,
The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120
ABSTRACT: We investigate why temporary book-tax differences appear to
serve as a useful signal of earnings persistence (Hanlon 2005). We first test
and show that temporary book-tax differences provide incremental information
over the magnitude of accruals for the persistence of earnings and accruals.
We then opine that there are multiple potential sources of large positive booktax differences. We predict and find that firms with large positive book-tax
differences likely arising from upward earnings management (tax avoidance)
exhibit lower (higher) earnings and accruals persistence than do other firms
with large positive book-tax differences. Finally, we find significant variation in
current-period earnings and accruals response coefficients and insignificant
hedge returns in period tþ1, consistent with investors being able to look through
to the source of large positive book-tax differences (earnings management and
tax avoidance), allowing them to correctly price the persistence of accruals for
these subsamples.
Book Tax Confirmity
Atwood, T.J., Drake, M.S., & Myers, L.A. (2010). Book-tax conformity,
earnings persistence and the association between earnings and future
cash flows. Journal of Accounting and Economics, 50, 111–125.
Calls for eliminating differences between accounting earnings and taxable
income in the US have been debated extensively. Proponents of increased
book-tax conformity argue that tax compliance will increase and earnings
quality will improve. Opponents argue that earnings quality will decline. We
examine whether the level of required book-tax conformity affects
earnings persistence and the association between earnings and future
cash flows. We develop a comprehensive book-tax conformity measure
and find that earnings have lower persistence and a lower association
with future cash flows when conformity is higher. Our evidence suggests
that increased book-tax conformity may reduce earnings quality.
Book Tax Confirmity
Home country tax system Characteristics and corporate tax avoidance:
international Evidence, T.J. Atwood, Michael S. Drake, James N. Myers
Linda A. Myers, The Accounting Review, ol 87, No 6 (2012) pp.1831-1860
We examine whether three tax system characteristics—required book-tax
conformity, worldwide versus territorial approach, and perceived strength of
enforcement— impact corporate tax avoidance across countries after
controlling for firm-specific factors previously shown to be associated with tax
avoidance (i.e., performance, size, operating costs, leverage, growth, the
presence of multinational operations, and industry) and for other cross-country
factors (i.e., statutory corporate tax rates, earnings volatility, and institutional
factors). We find that, on average, firms avoid taxes less when required booktax conformity is higher, a worldwide approach is used, and tax enforcement is
perceived to be stronger. However, the relations between tax avoidance and all
three tax systems characteristics are contextual and depend on the extent to
which management compensation comes from variable pay, including bonuses,
stock awards, and stock options.
TERIMA KASIH
Dwi Martani - 081318227080
[email protected] atau [email protected]
http://staff.blog.ui.ac.id/martani/
131
Taxation
Agenda
Taxation in Indonesia
Research in Taxation
Paper Discussion
2
Taxation
In Indonesia
Pengertian Pajak
Prof. Dr. Rochmat Soemitro, S.H
iuran rakyat kepada kas negara berdasarkan undangundang (yang dapat dipaksakan) dengan tidak mendapat
jasa timbal (kontraprestasi), yang langsung dapat
ditunjukkan dan yang digunakan untuk membayar
pengeluaran umum
(Dasar-dasar hukum pajak dan
pajak pendapatan 1990:5)
4
Definisi Pajak
• Dipungut berdasarkan undang-undang
• Tidak menunjukkan adanya kontraprestasi
• Dipungut negara baik pemerintah pusat dan daerah
• Diperuntukkan pengeluaran pemerintah public
investment
• Mempunyai tujuan lain reguler
5
Mengapa Belajar Pajak ??
Kewajiban
Individu
Pertumbuhan
ekonomi
(Makro)
PAJAK
Kewajiban
Perusahaan
(AK)
Penerimaan
Negara (ASP)
6
Pajak dalam Laporan Keuangan
Laporan posisi keuangan
Laporan laba rugi
Arus kas
7
Pajak dalam Laporan Keuangan
Catatan atas Laporan keuangan
8
Ilustrasi Pajak Perusahaan
LABA RUGI
Laba sebelum pajak xxx
Pajak kini (current tax)
(xxx)
Pajak tangguhan (deferred tax) xxx
Laba tahun bjln dari operasi dilanjutkan
Kerugian/pendapan operasi dihentikan
Laba tahun berjalan xxx
Penghasilan komprehensif lain
xxx
Pajak penghasilan terkait
(xxx)
Total laba komprehensif xxx
Laba yang dapat diatribusikan kepada:
Pemilik entitas induk xxx
Kepentingan non pengendali
xxx
xxx
xxx
NERACA
Aset Pajak Tangguhan xxx atau
Liabilitas Pajak Tangguhan
xxx
9
Pajak dalam APBN 2018
10
Pertumbuhan Penerimaan Pajak
Penerimaan Pajak
Dalam Triliun Rp
Pertumbuhan per tahun
Tax Ratio
Arti sempit: hanya pajak saja
Arti luas: termasuk SDA Migas dan minerba
11
Komposisi Penerimaan Pajak APBN 2017
12
Komposisi Pajak dan Tax Amnesty
13
Pajak Perusahaan
Dipotong
PPh 23 atas
penghasilan
jasa
Penghasilan
Beban yang dapat
dikurangkan
Badan
PBB
Meterai
BPHTB
Pajak
Daerah
Penghasilan kena
pajak
Lapo
r
KPP
X tarif pajak
Pajak terutang 1thn
fiskal
Kredit pajak
• Angsuran pajak
Memoton
g PPh 21
atas gaji,
PPh 23
atas
jasa
PPN atas
penyerah
an
barang/ja
sa
Setor
Kas
negara
14
Perbedaan Pajak dan Akuntansi -1
PSAK
UndangUndang
AKUNTANSI
PAJAK
PERBEDAAN
Permanen
Penelitian:
Book tax Gap
Eff Tax Rate
Temporer
Pajak Tangguhan:
Aktiva/utang
Beban/Pendapatan
15
UU PAJAK PENGHASILAN (UU 36/2008)
Perubahan keempat dari UU 7/1983
Subyek Pajak
Obyek Pajak
• Obyek; bukan obyek; pengurang dan bukan pengurang
Cara Menghitung Pajak
• Tarif, struktur modal, harga transaksi, revaluasi
Pelunasan pajak dalam Tahun Berjalan
• PPh 21; 22; 23; 24; 25
Perhitungan pajak akhir tahun
• PPh 28; PPh 29
16
Subjek Pajak
Pasal 2 Ayat (1 dan 1a)
Orang Pribadi (OP)
Warisan yang belum terbagi sebagai
satu kesatuan, bersifat
menggantikan yang berhak.
Badan
Bentuk usaha tetap (BUT),
merupakan subyek pajak yang
perlakuan pajaknya dipersamakan
dengan subyek pajak badan.
17
Definisi Penghasilan
Pasal 4 Ayat (1)
Merupakan setiap tambahan
kemampuan ekonomis yang:
- Diterima atau diperoleh wajib pajak.
- Berasal dari Indonesia maupun dari
luar Indonesia.
- Dapat dipakai untuk konsumsi atau
untuk menambah kekayaan wajib
pajak.
Dengan nama dan dalam bentuk
apapun
18
UU PPN & PPnBM (UU 42/2009)
Perubahan keempat dari UU 8/1983
Pengukuhan pengusaha kena pajak
Kewajiban melaporkan usaha, memungut dan
menyetor dan melaporkan pajak terutang
Obyek Pajak
Tarif dan Cara Menghitung Pajak
Saat dan tempat terutang
Laporan Perhitungan pajak
Ketentuan Khusus - pemungut
19
KETENTUAN UMUM TATA CARA PERPAJAKAN
FISKUS
WAJIB PAJAK
c
Pembukuan/
Pencatatan
c
Pendaftaran
(NPWPNPPKP)
Pemeriksaa
n
Penetapan
(SKP)
Keberatan
Pembayaran
(SSP)
Banding
Pelaporan
(SPT)
BPP
MA
Kasasi
20
Pembukuan dilakukan Berdasarkan
Standar Akuntansi Indonesia
Pernyataan Standar Akuntansi Keuangan - PSAK
Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas
Publik signifikan - SAK-ETAP
Standar Akuntansi Entitas Mikro Kecil Menengah - SAK
EMKM
Standar Akuntansi Syari’ah – SAK Syariah
Standar Akuntansi Pemerintahan – SAP PP 71 tahun 2010
IFRS hanya diadopsi PSAK full 2012. Tahun 2013 dilakukan revisi standar dan
ditambahkan standar baru 65, 66, 67, 68 yang efektif pada 2015.
Pada 2015 dikeluarkan PSAK 69 Agrikultur dan revisi beberapa standar.
Pada tahun 2016 dikeluarkan PSAK 70 dan PSAK 71 & PSAK 72. Tahun 2017
PSAK 73 efektif berlaku pada 2020
SAK ETAP dikeluarkan tahun 2010, dan 2016 dikeluarkan SAK EMKM
Pada 26 Mei 2016: Revisi PSAK 108 Akuntansi Transasi Asuransi Syariah dan
PSAK 101 LK Syariah
21
Research in
Taxation
Riset pajak di Indonesia
• Kebijakan perpajakan :
– Kepatuhan WP terhadap peraturan pajak
– Tax gap = antara potensi pajak dengan jumlah pajak yang telah
masuk baik dari sisi obyek maupun subyek
– Pengenaan pemotongan pajak
– Implikasi kebijakan perpajakan
• Tax amnesty, Revaluasi aset
• Reformasi pajak: E-filling; E-billing
• TP Doc
– Pajak dan perekonomian
• Trend Penerimaan pajak
• Tarif pajak dan kompetisi ekonomi
23
Riset Perusahaan
• Pengungkapan Akuntansi Pajak penghasilan
– Pengaruh pajak terhadap cost of debt and capital
– Ketaatan perusahaan memenuhi kewajiban
pajak
– Pajak dalam laporan keuangan book tax
difference; earning management; pajak
tangguhan.
– Tax management, tax avoidance, tax evasion
– Pajak internasional transfer pricing, heaven
countries, thin capitalization
• Book tax different:
– Penyebab Time & Permanent (tax planning) – aset tetap, foreing
operation, debt
– Potensi rekonsiliasi fiskal untuk earning management.
– Dampak Book tax gap terhadap persistensi laba, nilai perusahaan.
24
Perilaku
• Penghindaran pajak (persepsi, laporan keuangan)
– Faktor yang mempengaruhi penghindaran
pajak
• Penelitian experiment terkait perilaku penghindaran pajak
• Ketaatan pajak
– Faktor yang mempengaruhi etika,
kepercayaan pada pemerintah, religuisitas.
• Etika dalam perpajakan data primer
25
Penelitian Pajak
• Penelitian pajak sebelum pertengahan 1980 menurut
Shackelford dan Shevlin (2001) dikategorikan menjadi:
– legal research, mengevaluasi efek pajak pada transaksi
exogenous, dan biasanya dipublikasikan pada jurnal hukum; dan
– policy studies, mengevaluasi distribusi atau efisiensi efek pajak,
biasanya dipublikasikan di jurnal akuntansi publik.
• Riset banyak dijumpai dalam jurnal akuntansi seperti TAR,
JAR, JAE.
• Riset pajak bersifat multidisipliner sehingga dikaitkan
dengan makro ekonomi, perilaku, kebijakan publik
National Tax Journal, Journal of Public Econmics, Journal of
Accounting and Public Policy
26
Penelitian Pajak
• Paper pajak dalam tiga jurnal akuntansi terkemuka.
27
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Shevlin (1999)
– Riset kebijakan bagaimana pajak meningkatkan
aktivitas ekonomi, mendistribusikan kekayaan dan
bagaimana meningkatkan pajak. Evaluasi atas
kebijakan pajak apakah dapat mencapai tujuannya.
(JATA & NTJ)
– Perencanaan pajak bagaimana individu dan
perusahaan merespon peraturan pajak.
– Kepatuhan pajak judgemnet and decision making
sehingg banyak dipengaruhi oleh bidang psikologi
28
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Shacklelford dan
Shevlin (2001)
– Trade off pajak dan non pajak Perencanaan pajak
mempengaruhi pilihan akuntansi keuangan dan pertimbangan
akuntansi keuangan mempengaruhi perencanaan pajak (tidak
independen)
• Pelaporan keuangan (inventory, intertemporal income shifting,
• Agency cost
– Pajak dan penilaian saham dampak pajak atas M&A, capital
structure, pengaruh pajak investor terhadap harga saham
– Multijurisdictional perusahaan multinasional dan perusahaan
multistate
29
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian pajak menurut Hanlon dan Heitzman
(2010) :
– peran informasi beban pajak penghasilan perbedaan antara
laba akuntansi dengan penghasilan kena pajak terkait dan
implikasinya terhadap pelaporan keuangan;
– tax avoidance (penghindaran pajak) perusahaan;
– efek pajak terhadap pengambilan keputusan perusahaan
termasuk investasi, struktur modal, dan bentuk organisasi, serta
kebijakan pajak mana yang efektif dilihat dari implikasi nyatanya
terhadap keputusan perusahaan.
– pajak investor (investor level taxes) dan penilaian aset (asset
pricing) – terkait riset mengenai dampak dari pajak dividen untuk
investor dan pajak atas capital gains
30
Klasifikasi Penelitian Pajak
• Klasifikasi penelitian akuntasi pajak menurut Graham et
al (2012) :
– earnings management valuation allowance, diskresi
pelaporan beban pajak,pendapan
– hubungan antara perbedaan nilai buku dengan nilai
pajak (book-tak differences) dengan
karakteristik/kualitas laba; dan
– Pengaruh informasi pajak terhapda nilai saham
31
Metodologi Penelitian Pajak
• Coyne (2010)
– Analitis
– Archival / empiris
– Eksperimental
– Metode lainnya
• Klasifikasi lain
– teoritis, normatif
– Behavioral / judgement and decision making
– Review / deskriptif
– Survey; studi lapangan
32
Research in Taxation
Methodology
• Experimental market
• Behavioral /judgment and
decision making – 40%
• Analythical
• Empirical – 50%
Top Accounting Journal & Taxation
• The Journal of American Taxation
Association (JATA)
• Journal of Accounting Review (JAR)
•
The Accounting Review (TAR)
•
Journal of Accounting and Economic
Classification
Tax Policy research effectiveness of
policy to achieve the goals
Tax planning research respond on tax
rule
Complience Research
33
Tax Research
34
Research in Tax Planning
35
TAX RESEARCH IN ACCOUNTING
D.A. Shackelford, T. Shevlin, Journal of Accounting and Economics
• This paper traces the development of archival, microeconomic-based,
empirical income tax research in accounting over the last 15 years.
• The paper details three major areas of research:
– the coordination of tax and non-tax factors,
– the effects of taxes on asset prices
– the taxation of multijurisdictional (international and interstate) commerce.
• Methodological concerns of particular interest to this field also are discussed.
• Research before 1980
– Legal research, evaluating the effects of taxes on
exogenous transactions, usually published in law
journals, and
– Policy studies, evaluating the distributional or
efficiency effects of taxes, usually published in public
economics journals.
36
Research Question
• Tax research has long attempted to address three
questions of scholarly and policy interest:
– Do taxes matter?
– If not, why not?
– If so, how much?
• Current tax research in accounting addresses these
questions using a framework developed by by Scholes
and Wolfson (SW, 1992).
37
Scholes–Wolfson paradigm
• Effective tax planning requires the [tax] planner to consider
the tax implications of a proposed transaction for all of the
parties to the transaction.
• Effective tax planning requires the planner, in making
investment and financing decisions, to consider not only
explicit taxes (tax dollars paid directly to taxing authorities)
but also implicit taxes (taxes that are paid indirectly in the
form of lower before-tax rates of return on tax-favored
investments).
• Effective tax planning requires the planner to recognize that
taxes represent only one among many business costs, and
all costs must be considered in the planning process: to be
implemented, some proposed tax plans may require
exceedingly costly restructuring of the business.’’ (SW, p. 2).
38
Scholes–Wolfson paradigm
• The three themes - All parties, all taxes, and all costs
provide a structure for tax management that achieves
organizational goals, such as profit or wealth maximization.
• The themes imply that tax minimization is not necessarily
the objective of effective tax planning.
• Effective tax planning must be evaluated in the efficient
design of organizations and through adoption of a
contractual perspective.
• The paradigm implicitly assumes that if all contractual
parties, all taxes (explicit and implicit), and all non-tax costs
can be identified and controlled, then the observed tax
behavior will be rational and predictable.
• No paper challenges the validity of the SW framework.
39
Tax and non-tax tradeoffs
• Financial reporting considerations
–
–
–
–
–
–
Inventory accounting
Compensation
Inter-temporal income shifting
Capital structure, divestitures and asset sales
Regulated industries
Other setting – accounting for depreciable asset
• Agency Costs
–
–
Compensation
Tax shelters
• Tax research in accounting examines the
coordination of taxes and other factors in
business decisions.
• Taxes cannot be minimized without affecting
other organizational goals.
• This review of the tradeoff literature is
dichotomized:
–
–
the interaction of financial reporting and tax factors
the effects of agency costs on tax minimization.
40
Taxes and assets prices
•
•
•
•
•
•
•
Merger and acquisition
Capital structure
Implicit taxes
Equity price and investor taxes
Dividends tax capitalization
Capital gains tax capitalization studies of equilibrium prices
Price pressure arising from capital gains taxes
41
Research in Taxation - methodology
• Methodology
– Experimental market
– Behavioral /judgment and decision making
– Analythical
– Empirical
• Classification
– Tax Policy research effectiveness of policy to achieve the goals
– Tax planning research respond on tax rule
– Complience Research
42
Suggestion Future Research
• First, the better research in the future will move beyond simply
documenting that taxes matter.
• Second, additional theoretical guidance is needed to move the literature
beyond SW and longstanding finance papers.
• Third, the methodological concerns raised in this paper imply that more
rigorous econometrics may be needed.
• Fourth, we anticipate tax research in accounting to better incorporate
knowledge from other areas, particularly finance and public economics.
• Fifth and closely related to the last development, tax research in
accounting should increasingly impact the tax research being
undertaken in finance and economics as the common interest across
disciplines is better recognized.
43
Suggestion
• We close with a few thoughts about potentially new areas
of research.
– First , strong links have been developed between financial
accounting and taxes.
– Second, a potentially understudied topic is accounting for income
taxes, which neither tax research nor financial accounting research
has closely evaluated.
– Finally, little is known about the potential cross-sectional
differences in the willingness of firms to avoid taxes.
• One determinant that has attracted attention is the extent
to which managers or other insiders control the firm.
44
Paper
Discussion
A Review of
Tax Research
Michelle Hanlon and Shane Heitzman,
Journal of Accounting and Economics
(2010) (50) 127-178.
46
Introduction
• Shackelford and Shevlin (2001) limit their review to research
published in accounting outlets and describe the development of
the relatively young archival, microeconomic-based income tax
literature that arose from the Scholesand Wolfson framework.
• Maydew(2001) emphasizes the need for tax researchers in
accounting to think more broadly and to incorporate more theory
and evidence from economics and finance.
• Tax research has along history in many disciplines.
• The goal in this paper is to integrate the theoretical and empirical
tax research from accounting, economics, and finance, to
summarize what is known and unknown, and to offer suggestions
for future research.
47
Review Tax Research
The informational
role of accounting
for income taxes
Taxes, book-tax
tradeoffs, and real
corporate decisions
Review Tax
Research
corporate tax
avoidance
Taxes and asset
pricing
48
Informational role of AFIT
A taxonomy of the literature
and review of the evidence
• Inferences from book-tax
differences about current
and future earnings.
• Are earnings managed
through the tax accounts?
• Do changes in the
valuation allowance reveal
manager’s private
information about future
performance?
Book-tax conformity
Sources of
differences
between book and
taxable income
The informational
role of accounting
for income taxes
Summary and
suggestions for
the future
49
Tax Avoidance
Theory of corporate tax
avoidance
• Tax system : tax rate
• Legal system &
governance
Measuring tax avoidance
Effective tax rate measures
• Effective tax rate
measures
• Long-run effective tax
rates
• Book-tax differences
• Discretionary or
‘‘abnormal’’ measures of
tax avoidance
• Unrecognized tax
• Tax shelter firms benefits
(UTB)
Determinants of tax
avoidance (firm
characteristic,
manager effects,
ownership,
governance,
incentives
corporate tax
avoidance
The consequences of
tax avoidance
• Direct: CF, Firm
Value
• Indirect: cap
structure decision
Summary and
suggestions for the
future
50
Pengukuran Tax Avoidance
Metode
Pengukuran
GAAP ETR
Cara Perhitungan
Current
Current ETR
ETR
Cash
Cash ETR
ETR
Long-run cash
Long-run cash
ETR
ETR
ETR
ETR
Differential
Differential
Statutory ETR- GAAP ETR
Statutory ETR- GAAP ETR
DTAX
DTAX
Error term from following regression : ETR
Error
term from
following
differential
x Pre-tax
bookregression
income = a: ETR
+b x
differential
x
Pre-tax
book
income
=
a
+b x
controls + e
controls + e
Sumber : Hanlon dan Heitzman (2010)
Keterangan
Total tax expense per dollar of
pre-tax book income
Current
Current tax
tax expense
expense per
per dollar
dollar
of
of pre-tax
pre-tax book
book income
income
Cash
Cash tax
tax paid
paid per
per dollar
dollar of
of
pre-tax
book
income
pre-tax book income
Sum of taxes paid per over n
Sum of taxes paid per over n
years divided by the sum of
years divided by the sum of
pre-tax earnings over n years
pre-tax earnings over n years
The differences of between
The
differences
of and
between
the statutory
ETR
the firm
the
statutory
ETR
and
the firm
´s GAAP ETR
´s GAAP ETR
The unexplained portion of the
The
ETRunexplained
differential portion of the
ETR differential
51
Tax Avoidance
Metode
Pengukuran
Total BTD
Temporary
BTD
Abnormal total
BTD
Unrecognized
tax benefit
Tax shelter
activity
Marginal tax
rate
Cara Perhitungan
Pre-tax book income – ((U.S. CTE + Fgn CTE /
U.S. STR) – (NOLt – NOLt-1))
Deferred tax expense/ U.S. STR
Keterangan
The total differences between
book and taxable incomes
A measure of unexplained
total book-tax differences
Disclosed ammount post-FIN-48
Tax liability accrued for taxes
not yet paid on uncertain
positions
Indicator variable for firms accused of engaging in Firms identified via firm
a tax shelter
disclosures, the press, or IRS
confidential data
Simultated marginal tax rate
Present value of taxes on an
additional dollar income
Sumber : Hanlon dan Heitzman (2010)
52
Tax & Corporate Decison
•
•
•
•
•
•
•
Investment
Theory of investment
and taxes: a brief
background
Taxes and
investment: some
evidence
Investment in
intangibles
Investment location
decisions
The reinvestment or
repatriation decision
Corporate inversions
to tax havens
Summary and
thoughts for future
research
•
•
•
•
Capital structure
Estimating the tax benefit
of debt
Measuring leverage
Summary and thought for
the future
Payout policy
Taxes, book-tax
tradeoffs, and real
corporate decisions
Taxes and other dec:
transfer pricing,
aquistioan and
compensation
Transfer pricing
Merger and
aquisition
Executive
compensation
Executive trading
Organizational form
The choice of
organizational form
Summary and thought
for future research
Tax & Aset Pricing
•
•
•
•
•
•
Deviden taxation
The economic effects of
dividen taxation: a brief
introduction
Log-horizon returns: the
effect of dividend yiled
on expected returns
Event study predictions:
the valuation of
dividend tax rate
change
Ex-devidend day study
Evidence from valuation
models
Summary
Thoughts for
future research
Investor-level
taxes and asset
prices
Capital gains taxation:
capitalization & lock-in
• Capital gains taxes and
expected return
• Stock market realization
and lock-in effect
Remaining issues and
Ques for future research
• How relevant the
marginal investor?
• Are dividend taxes
priced differently across
firms
• Asset pricing in the
open economy
Research in
Accounting for
Income Taxes
John R.Graham, Jana S.Raedy , Douglas
A.Shackelford
Journal of Accounting and Economics
(2011) Nov
The Rule Governing Accounting for Income Taxes
Temporary difference
Permanent Different
Uncertain tax contingent
Permanently reinvested foreign
earnings
Why Accounting of Income Taxes
Income Tax expense is significant expense
Tax accounts provide information to an
adversarial party
Tax account provide an alternative
measure of income
Tax expense is never included as
component of operating expense
Research in Accounting for Income Taxes
Earnings
management
Research in
Accounting for
Income Taxes
The association
between booktax differences
Earnings
characteristics,
and the equity
market pricing of
information in the
tax accounts.
Earning Management
Studies of earning
management via
discreation in
reporting the US tax
expense on foreign
profit
Studies of earning
management via the
valuation allowance
Earning
Management
Studies of earning
management via the
tax contingency
account
Other studies
Future research in
earning
management
Informational role of AFIT
•
Persistence of
tax information
– tax change
component or
earning
•
Earning quality
proxies
• BTD effects earning
growth
Association between
boot tax differences
and earning
characteristics
•
BRD and earning
persistence
Tax Avoidance
Deferred tax account
Empirical studies
Theoritical studies
Information content of
estimated taxable income
and book tax difference
Ass. Contemporaneous
return and BTD
Ass. future return and
estimated taxable
income
Tax
Contingency
The pricing of
tax information
reported in the
FS
Summary
Future research
in pricing of tax
information in
FS
Conclusion
• Tax on real corporate decesion difficult to document.
• Informational role of AFIT
– More detailed examination sources of books tax different
• Tax avoidance, gov obejctive : closer the gap, increase complience and collect
more revenue.
– Principle agent setting
– Tax authority and corporate governance system
– Theory and evidence causes and consequences of the tax avoidance
• Taxes are one factor that enter into management cost banefit management
decision
TAX REPORTING
AGGRESSIVENESS
AND ITS RELATION TO
AGGRESSIVE FINANCIAL
REPORTING
Mary Margaret Frank, Luann J Lynch and
Sonja Olhoft Rego (2009)
Tujuan dan Kontribusi
Tujuan
• Menguji validitas pengukuran Tax Reporting Aggressivenes
• Menguji Hubungan antara FRA dengan TRA
• Menguji Implikasi FRA dan TRA terhaaap kesejahteraan shareholder
Kontribusi
• Menemukan adanya hubungan positif yang kuat antara FRA dengan
TRA (Unexplore before)
• Mengembangkan pengukuran TRA yang mampu mendeteksi aktivitas
Tax Shelter
• Untuk pertama kali menguji pengaruh FRA dan TRA terhadap Future
Stock Return
• Mengukur TRA dengan Permanen Differences
Motivation of Study
Skandal
ENRON
Investigasi
kenaikan
FRA dan TRA
Perusahaan
Amerika
FRA :Financial Reporting Aggressiveness
TRA : Tax Reporting Aggressiveness
SEC: Securities & Exchange Commission
Treasury Dept
fokus pada
deteksi dan
tuntutan
Aktivitas Tax
Shelter
Motivation of Study
Trade off
Company
Financial
Statement
Income
Reported to
Tax Authorities
Motivation of Study
FINANCIAL
REPORTING
Book Tax
TRADE OFF
Extensive
Conformity
TAX
REPORTING
UPWARD
BOOK
INCOME
TAX
COST
DOWNWAR
D TAX
INCOME
FR
COST
Low Income to Share
Holder
THEORY
Trade
OFF
HIGHER
Book Income
To share Holder
Periode yang sama
LOWER
Taxable
Income
To Tax authorities
Motivation of Study
• Awal 1990an : US Corporation melaporkan Peningkatan
Perbedaan antara Income yang dilaporkan kepada Shareholder
VS Tax Authority.
• Indikasi tidak terjadi Trade Off terjadi Book Income Upward
and Taxable Income Downward periode yang sama
• Intinya : Peristiwa ini dimotivasi oleh Skandal Akuntansi yang
dicerminkan oleh Aggresiveness Tax Shelter Activity dan
Peningkatan Book Tax Gap
NO TRADE OFF
H1: Financial Reporting Aggressiveness Berpengaruh Positif
terhadap Tax Reporting Aggressiveness
Mengukur Tax Reporting Aggressiveness
Menggunakan Corporate Tax Planning Effectiveness dengan
proksi :
1. ETRs
2. Total Book Tax Difference
3. Cas ETRs
4. Discetionary Total BTD (Residual from Regrression)
Propose rely on PERMANEN
DIFFERENCES
Alasan menggunakan Premanen Differences
(bukan Total atau Temporary BTD)
1.
2.
3.
4.
5.
6.
Penelitian terdahulu temporary BTD mencerminkan
Manajemen Laba melalui
Pretax Accruals (mis: Philips et all,
2003) Hubungan Palsu untuk proksi FRA. (472)
Cash ETR Hubungan Palsu dengan FRA
Permanent Difference Dollar, sedangkan ETRs dalam
persentase Permanen Difference lebih Comparable to Total
Acrual
Untuk mengukur TRA Permanen Difference lebih Konsisten
dengan menganggap ‘Nature’ aktivitas tax shelter agresif
5 dari 8 Tax Shelter generates Permanent Different (Wilson,
2009)
Total BTD, Cash ETRs tidak mengontrol Non Discresionary item
(mis: intangible, PPE) yang bisa menyebabkan baik temporary
maupun permanent different.
Alasan menggunakan Premanen Differences
(bukan Total atau Temporary BTD)
•
Intinya : penelitian ini mengeluarkan Tax Planning yang Menggenerate
Temporary Different (472)
•
Walaupun Permanent Different lebih baik namun tidak
mempetimbangkan beberapa item terkait TRA, seperti: State Income
Taxe, Tax Credit, Change in tax cushion dan Change in valuation
Allowance account.
Penelitian ini mengestimasi Discresionary Permanent Different (DTAX)
Dengan meregresi Total permanen Different on Non Discresionary item
yang menyebabkan Permanen Different (mis:intangible) dan other
statutory adjustment (mis:state tax).
•
•
Validasi pengukuran TRA
• DTAX sebagai proksi TRA dihitung dengan cara:
• Dengan mengontrol nondiscresionary item yang tidak berhubungan dengan
Tax Planning yang menyebabkan Permanent Different dan Other Statutory
Adjustment
• Untuk External Validity Link it to sampel perusahaan menurut Graham and
Tucker (2006) ttg perusahaan yang melakukan Tax Shelter.
• Sampel perusahaan yang melukan tax sheltering melawan pemerintah
Model 2
Memasukkan variabel lain yang berhubungan dengan Tax
Planning:
PTROA = Profitability (PTROA),
NOL_D = Net Operating Loss Carry Forward
FOR_D = Foreign Operation
SIZE
= Firm Size
• ‘tanda’ dan signifikansi koefisien DTAX bertujuan untuk menunjukkan
kemampuan DTAX dalam menjelaskan aktivitas tax shelter
• Alternatif pengukuran (Logit Regresion) membandingkan kemampuan
masing-masing variabel dalam menjelaskan aktivitas tax shelter dengan
kemampuan DTAX
• Antara lain:
• DTAX = Discresionary Permanent Different
DD = Residual dari Pooled Crossed Sectional
Regresion dari Total BTD on Total Accrual
DD= TRA by Desai & Dharmapala (2006)
• Keunggulan DTAX sebagai alternatif Pengukuran adalah:
1. Mampu mengeluarkan Temporary Different yang merefleksikan
earning management
2.
Mengontrol Non Discresionary Source of Permanent
Kelemahan: Tidak mampu merefleksikan aktivitas Tax Shelter yang mengenerate- temporary different (spt:Lease In Lease Out-LILO)
Arrangement
Hasil estimasi model 2 mengukur TRA
Hasil estimasi model 2 menukur TRA
Relation Between FRA & TRA
• Pengukuran FRA.
• Proksi FRA= Performance-Matchd discretionary Accruals (DFIN)--> Kothari
et al (2005)
• Menggunakan Modified Jones Model (dechow et al, 1995) Model 3
Robustness Test
• Perubahan pada tax cushion are terrefleksi pada permanent BTD and
berpotensi menambah measurement error untuk mengukur TRA
• mengontrol lagged permanent differences (LAGPERM) in dalam perhitungan
DTAX menghilangkan sejumlah TRA
• DTAX tidak secara langsung merefleksikan tax planning activity yang
menghasilkan temporary different
• CONSISTENTLY FIND A POSITIVE AND SIGNIFICANT RELATION
BETWEEN FINANCIAL AND TAX REPORTING AGGRESSIVENESS
Implikasi FRA bagi kesejahteraan
Shareholder
KESIMPULAN
• A strong positive relation between financial and tax reporting
aggressiveness
• Insufficient cost exist to offset basic financial and tax reporting incentives,
such that nonconformity between financial accounting standards and tax
allows firms to manage book income upward and taxable income downward
in the same reporting period
• Stock return analysis confirms that investor do not fully incorporate the
information in discretionary accrual into stock price and reveals that much
investor mispricing is attributable to a hedge portfolio based on measure of
tax aggressiveness for firms with the most aggressive financial reporting
Home Country Tax System
Characteristics
and Corporate Tax Avoidance:
International Evidence
T. J. Atwood; Michael S. Drake; James N.
Myers & Linda A. Myers
THE ACCOUNTING REVIEW Vol. 87, No. 6,
2012, pp. 1831–1860
Ruang Lingkup & Tujuan
Penelitian
Karakteristik Sistem Pajak
Tax Avoidance
kesesuaian antara laba
akuntansi dengan laba fiskal
(book tax conformity - BTC)
Pendekatan Worldwide vs
territorial
Diartikan sebagai segala upaya yang
menyebabkan terjadinya perbedaan
antara jumlah pajak sesuai dengan
tarif yang berlaku dengan jumlah
pajak yang dibayarkan oleh
perusahaan
(Dyreng et al. 2008)
Persepsi terhadap enforcement
Variabel Moderasi
Insentif Managerial
Komponen Akrual
Variabel Kontrol
Performance, size, operating costs,
leveraga, growth, presence of
multinational operations dan
insdutry
Statutory corporate tax rates,
earnings volatility dan institutional
factor
Motivasi & Kontribusi
Penelitian
Reformasi Pajak di AS untuk
meningkatkan penerapan book-tax
conformity (Desai, 2005)
Penggunaan pendekatan teritorial
(Avi Yonah, 2010)
Perlunya penegakan hukum dalam
pajak (Shulman, 2009)
Tindak lanjut atas penelitian
sebelumnya yang meneliti tentang
faktor-faktor yang mempengaruhi
tax avoidance (Hanlon dan
Heizman, 2010)
Penelitian sebelumnya kebanyakan
hanya berfokus pada salah satu
negara (Hanlon dan Heizman,
2010)
Literatur : Menggambarkan variasi
cross-section atas tax avoidance
(lintas negara).
Pembuat Kebijakan (Pemerintah):
Dalam rangka menentukan/
menegakkan regulasi perpajakan
Investor : Dalam rangka
menginterpretasikan/
membandingkan
Pengembangan Hipotesis 1
Terdapat fleksibilitas perbedaan
pelaporan laba kena pajak fiskal
dengan akuntansi pada setiap
perusahaan di berbagai negara
(Atwood et al.2010)
Perusahaan pada
Home Country
Required
Book-Tax
Conformity
Tax avoidance yang dilakukan
oleh manajer akan berkurang
dengan adanya peningkatan
kewajiban penerapan tax–book
conformity di AS (Desai, 2005)
Tax
Avoidance
Pengembangan Hipotesis 2
Perusahaan induk di negara yang
menganut pendekatan territorial akan lebih
diuntungkan jika mengalihkan laba ke
negara yang low enforcement karena
deviden yang diterima dari anak
perusahaan di luar negeri secara
permanen dapat dibebaskan dari pajak
pada home country, sedangkan pada
negara yang menganut pendekatan
worlwide, pengalihan tersebut hanya
bersifat penangguhan pada home country
(Hicks, 2009)
Perusahaan multinasional pada home
country yang menganut pendekatan
territorial cenderung menggeser
pendapatan pada afiliasi asing
dibandingkan perusahaan pada home
country yang menganut pendekatan
worldwide (Markle, 2010)
Tax Avoidance
oleh
Perusahaan
Home Country
Menggunakan
Pendekatan
Territorial
V
s
Home Country
Menggunakan
Pendekatan
Worldwide
Pengembangan Hipotesis 3
Hukuman yang dikenakan langsung
kepada manajer akan lebih efektif dalam
mengurangi tax avoidance dibandingkan
jika hukuman dikenakan kepada
korporasi (Crocker dan Slemrod, 2005)
Probabilitas pemeriksaan pajak yang
tinggi meningkatkan kualitas akrual dan
posisi pajak perusahaan publik kurang
agresif (Slemrod, 2004)
Menyusul peningkatan penegakan
hukum perpajakan di Rusia,
pembayaran pajak meningkat,
perdagangan dengan pihak terkait
dibatasi dan entitas tax haven
ditinggalkan (Desai, 2007)
Tax Avoidance oleh
Perusahaan
Berdomisili di
Negara Low
Enforcement
Vs
Berdomisili di
Negara Strong
Enforcement
Pengukuran Tax Avoidance
(Dyreng, 2008)
Model Tax Avoidance
Pengukuran Required Tax-Book
Conformity (BTaxC) : (Atwood et al.
2010)
Kaidah Keputusan (Lihat Model Tax
Avoidance ):
H1 = Jika BTaxC TaxAvoid (Negatif /α1 < 0)
H2 = Jika WW Tax Avoid (Negatif /α2 < 0)
H3 = Jika TaxEnf Tax Avoid (Negatif /α3 < 0)
Model Tax Avoidance dengan Incentive
Compensation
Ekspektasi Peneliti:
Terdapat perbedaan koefisien antara kategori High
dan Low.
Model Tax Avoidance dengan Accruals Components
WC = Current operating assets – Current operating liabilities
NCO = Noncurrent operating assets – Noncurrent operating liabilities
FIN = Financial assets – Financial liabilities
Richardson et al. (2005)
Ekspektasi Peneliti:
Terdapat pengaruh positif antara TaxAvoid dengan
accruals.
SAMPEL DAN DATA
Sampel diperoleh dari semua perushaan yang terdaftar pada Compustat
Global Industrial/Commercial data base dari tahun 1993-1997
kriteria yang digunakan untuk menentukan sampel dalam penelitian adalah :
• Pertama penulis membatasi sampel sebanyak 33 negara sebagaimana
penelitian Atwood et al. (2010) untuk dapat mengestimasi required book-tax
conformity.
• Kedua penulis membatasi sampel sebanyak 22 negara sebagaimana
penelitian Towwers Parrin (2005) untuk dapat mengestimasi CEO Variabel
pay
• Laporan laba rugi perusahaan selama tiga tahun yang memiliki laba
positive sebelum pos luar biasa untuk menghitung tax aggressiveness.
• Menghapus perusahaan dari negara-negara yang tidak memiliki
sedikitnya 20 perusahaan.
Setelah dilakukan seleksi terhadap sampel diperoleh total akhir sampel
sebanyak 69.301 perusahaan dari 22 negara.
TABLE 1
Sample Composition and Median Characteristics by Country
TABLE 1 (Lanjutan)
HASIL PENELITIAN
1.
2.
Penelitian ini menggunakan permodelan regresi karena tujan dari
penelitian ini adalah untuk mengetahui hubungan yang terjadi
antara variabel terikat dengan satu atau lebih variabel bebas.
Teknik pengolahan data yang digunakan dalam penelitian ini yaitu
menggunakan regresi data panel.
Sebelum dilakukan regresi, terlebih dahulu penulis melakukan uji
collinearity dan multikolinearitas dengan melakukan pemeriksaan
terhadap nilai Variance Inflatation Faktor (VIF), dan setelah diuji
hasil menunjukkan tidak terjadi masalah multikolinearitas
TABLE 2
Descriptive Statistics and Correlations
TABLE 2
Descriptive Statistics and Correlations
TABLE 2 (Lanjutan)
TABLE 3
Tax Avoidance Regressions
TABLE 4
Tax Avoidance Regressions with Equity
Compensation Interactions
TABLE 5
Tax Avoidance Regressions with Controls for
Accruals Components
TABLE 5 (Lanjutan)
Analisis Sensitivitas
Dalam memperkuat bukti penerimaan hipotesis maka dilakukan
robustness tests dengan menggunakan beberapa sampel penelitian:
1. Pengujian dengan menggunakan keseluruhan sampel untuk
melihat pengaruh penghindaran pajak dengan variabel yang
digunakan adalah laba sebelum pajak sebelum pos luar biasa dan
menghasilkan data yang signifikan.
2. Melakukan uji antara penghindaran pajak dengan karakteristik
sistem pajak dengan mengurangi sampel perusahaan
multinasional diperoleh hasil BTaxC dan TaxEnf signifikan namun
koeefesien WW tidak signifikan.
3. Melakukan uji hanya memasukkan perusahaan multinasional
diperoleh hasil WW dan TaxEnf signifikan, BTaxC memiliki
hubungan negatif dengan tax avoidance.
KESIMPULAN
1.
2.
3.
4.
Tujuan penelitian adalah untuk menguji Bagaimana pengaruh karakteristik
sistem pajak yaitu kesesuaian antara laba akuntansi dengan laba fiskal (book
tax conformity - BTC) dengan pendekatan teritorial dan worldwide dan
penegakan hukum pajak terhadap penghindaran pajak (Tax Avoidance).
Hasil penelitian menunjukkan bahwa perusahaan-perusahaan dinegaranegara yang memiliki karakteristik BTC rendah dan penegakan hukum yang
rendah cendrung melakukan penghindaran pajak.
Penghindaran pajak juga berhubungan dengan karakteristik perusahaan di
suatu negara dalam menerapkan sistem kompensasi terhadap manajemen
yang terkait dengan variabel gaji (seperti bonus, saham, dan opsi saham).
Hasil penelitian menunjukkan bahwa, selain faktor spesifik perusahaan yang
menjadi variabel independen pada penelitian sebelumnya yaitu performance,
size, intangibles, debt financing, dan precence of multinational operations
yang memiliki pengaruh terhadap penghindaran pajak, ternyata penghindaran
pajak didorong oleh karakteristik sistem pajak di suatu negara dan interaksi
antara karakteristik dan struktur kontrak kompensasi manajemen.
IMPLIKASI PENELITIAN
Penelitian ini memberikan kontribusi pada:
1. Otoritas pajak (negara)
Memberikan kontribusi dalam terkait dengan upaya yang dilakukan
oleh suatu negara untuk meminimilisasi penghindaran pajak yaitu
diantaranya dengan cara:
a. Negara harus melaksanakan penegakan hukum yang kuat.
b. Lebih memperhatikan kebijakan yang berhubungan dengan
kesesuaian antara antara laba akuntansi dengan laba fiskal
(book tax conformity - BTC)
2. Perusahaan lebih memperhatikan kontrak kompensasi dengan
manajemen karena hal tersebut dapat berdampak pada terjadinya
tax avoidance.
Overview Tax Research
• A review of Tax Research, Michelle Hanlon and Shane Heitzman,
Journal of Accounting and Economics (2010) (50) 127-178.
• Research in accounting for income taxes, John R.Graham, Jana
S.Raedy , Douglas A.Shackelford Journal of Accounting and
Economics (2011) Nov. 412-434.
• The Future of tax Reserach: From an Accounting Proffessor’s
Perspective, Terry Shevlin, the Journal of the American Taxation
Association, Fall 2007; 87
• Empirical tax research in accounting Douglas, “A.Shackelford, Terry
Shevlin, Journal of Accounting and Economics (2001) 321-387.
BTD & ETR
• Determinants of the Variability in Corporate Effective Tax Rates,
Evidence from Longitudinal Data, Sanjay Gupta and Kaye Newberry,
Journal of Accounting and Public Policy, 16, (1997), 1-34.
• Tax Avoidance: Does Tax-Specific Industry Expertise Make a
Difference?, Sean T. McGuire, Thomas C. Omer, Dechun Wang, The
Accounting Review, Vol. 87, No. 3, 2012, pp. 975–1003.
• Determinants of the variability in corporate effective tax rates and tax
reform: Evidence from Australia, Grant Richardson, Roman Lanis,
Journal of Accounting and Public Poliy, 26, 689-704.
120
BTD & QUALITY OF INCOME
• Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings
Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting
Review, Vol. 87, No. 1 (2012), pp. 91–120
• Taxable Income as a Performance Measure:The Effects of Tax Planning and
Earnings Quality, Benjamin C. Ayers, John Xuefeng Jiang and Stacie K Laplante,
Contemporary Accounting Research, Vo 26, No 1 (Spring 2009) pp. 15-54
• The Persistence and pricing of earning accrual, and cash flows when firms have
large book tax difference, Michelle Hanlon, The Accounting Review, Vol 80 No 1,
(2005) pp 137-166.
• The Persistence, Forecasting and Valuation Implication of Tax Change
Component of Earnings, Ancrew P. Shmidt, The Accounting Review, May
2006:81
• An uninteded consequence of book-tax conformity: A loss of earnings
informativeness, Michelle Hanlon, Edward L. Maydew, Terry Shevlin, Journal of
Accounting and Economics 46 (2008) 294-311.
BTD & ASET PRICING
• Uday Chandra and Byung T. Ro, The Association between Deferred
Taxes and Common Stock Risk, Journal of Accounting and Public
Policy, 16, 311-333 (1997)
Tax Avoidance & Earning Management
• Can book–tax differences capture earnings management and tax
Management? Empirical evidence from China, Tanya Tang, Michael Firth, The
International Journal of Accounting 46 (2011) 175–204.
• Tax Reporting Aggressiveness and Its Relation to Aggressive Financial
Reporting, Mary Margaret Frank, Luann J. Lynch, Sonja Olhoft Rego, The
Accounting Review, 2009, Vol 84 No 2 pp.467-496
• Creating a Bigger Bath Using the Deferred Tax Valuation Allowance,
Theodore E. Christensen, Gyung H. Paik and Earl K. Stice,Journal of
Business Finance & Accounting, 35(5) & (6), 601–625, June/July 2008.
• Earning Management: New Evidence Based on Deferred Tax Expense, John
Philips and Porton Pincus, Sonja Ofhoft Rego, The Accounting Review, Apr
2003:78.
• Dhaliwal, D., C Gleason, dan L. Mills. (2004). Last chance earnings
management: using the tax expense to meet analysts’ forecasts,
Contemporary Accounting Research 21 (2): 431-457.
Tax Behavior
• The impact of audit risk, materiality and severity on ethical decision making: An
analysis of the perceptions of tax agents in Australia, Rex Marshall, Malcolm
Smith, Robert Armstrong, Managerial Auditing Journal, 21 5, 2006, 497-519
• Social responsibility, Machiavellianism and tax avoidance: A study of Hong
Kong, tax professionals, William E. Shafer, Richard S. Simmons, Accounting,
Auditing & Accountability Journal, Vol. 21 Iss: 5, (2008), pp. 695 – 720.
• The importance of faith: Tax Morale and religiosity, Benno Torgler, Journal of
Economic Behavior & Organization, 2006:81-109
• A Note on the Relation between Frames, Perceptions, and Taxpayer Behavior,
Scot B. Jackson and Richard C. Hatfield, Contemporary Accounting Research
Vol. 22 No. 1 (Spring 2005) pp. 145-64
Tax Avoidance, CG, CSR
• Tax avoidance, tax management and corporate social responsibility,
Fariz Huseynov, Bonnie K. Klamn, Journal of Corporate Finance, 18
(2012), 804-827
• Minnick, Kristina dan Tracy Noga. (2010). Do Corporate Governance
Characteristics Influence Tax Management?. Journal of Corporate
Finance, 16, 703-718
International Tax
• The determinants of thinly capitalized tax avoidance structures: Evidence
from Australian firms, Grantley Taylora, Grant Richardsonb, Journal of
International Accounting, Auditing and Taxation 22 (2013) 12– 25.
• The demand for tax haven operations, Mihir A. Desai, C. Fritz Foley, James
R. Hines Jr. Journal of Public Economics 90 (2006) 513– 531.
• International Corporate Tax Avoidance Practices: Evidence from Australian
Firms, Grantley Taylor and Grant Richarson, The International Journal of
Accounting, 47 (2012) 469–496.
• Cross-Jurisdictional Income Shifting by U.S. Multinationals: Evidence from
International Bond Offerings Kaye J. Newberry; Dan S. Dhaliwal Journal of
Accounting Research, Vol. 39, No. 3. (Dec., 2001), pp. 643-662.)
Book Tax Gap
The Persistence and pricing of earning accrual, and cash flows when
firms have large book tax difference, Michelle Hanlon, The Accounting
Review, Vol 80 No 1, (2005) pp 137-166.
Book Tax Gap
Tax Avoidance, Large Positive Temporary Book-Tax Differences, and
Earnings Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson,
The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120
ABSTRACT: We investigate why temporary book-tax differences appear to
serve as a useful signal of earnings persistence (Hanlon 2005). We first test
and show that temporary book-tax differences provide incremental information
over the magnitude of accruals for the persistence of earnings and accruals.
We then opine that there are multiple potential sources of large positive booktax differences. We predict and find that firms with large positive book-tax
differences likely arising from upward earnings management (tax avoidance)
exhibit lower (higher) earnings and accruals persistence than do other firms
with large positive book-tax differences. Finally, we find significant variation in
current-period earnings and accruals response coefficients and insignificant
hedge returns in period tþ1, consistent with investors being able to look through
to the source of large positive book-tax differences (earnings management and
tax avoidance), allowing them to correctly price the persistence of accruals for
these subsamples.
Book Tax Confirmity
Atwood, T.J., Drake, M.S., & Myers, L.A. (2010). Book-tax conformity,
earnings persistence and the association between earnings and future
cash flows. Journal of Accounting and Economics, 50, 111–125.
Calls for eliminating differences between accounting earnings and taxable
income in the US have been debated extensively. Proponents of increased
book-tax conformity argue that tax compliance will increase and earnings
quality will improve. Opponents argue that earnings quality will decline. We
examine whether the level of required book-tax conformity affects
earnings persistence and the association between earnings and future
cash flows. We develop a comprehensive book-tax conformity measure
and find that earnings have lower persistence and a lower association
with future cash flows when conformity is higher. Our evidence suggests
that increased book-tax conformity may reduce earnings quality.
Book Tax Confirmity
Home country tax system Characteristics and corporate tax avoidance:
international Evidence, T.J. Atwood, Michael S. Drake, James N. Myers
Linda A. Myers, The Accounting Review, ol 87, No 6 (2012) pp.1831-1860
We examine whether three tax system characteristics—required book-tax
conformity, worldwide versus territorial approach, and perceived strength of
enforcement— impact corporate tax avoidance across countries after
controlling for firm-specific factors previously shown to be associated with tax
avoidance (i.e., performance, size, operating costs, leverage, growth, the
presence of multinational operations, and industry) and for other cross-country
factors (i.e., statutory corporate tax rates, earnings volatility, and institutional
factors). We find that, on average, firms avoid taxes less when required booktax conformity is higher, a worldwide approach is used, and tax enforcement is
perceived to be stronger. However, the relations between tax avoidance and all
three tax systems characteristics are contextual and depend on the extent to
which management compensation comes from variable pay, including bonuses,
stock awards, and stock options.
TERIMA KASIH
Dwi Martani - 081318227080
[email protected] atau [email protected]
http://staff.blog.ui.ac.id/martani/
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