유효세율과 기업특성의 변화
Trends in Effective Tax Rates and their Determinants
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초록
본 연구는 지난 26년 동안 유효세율의 추세를 분석하다. 본 연구는 기간경과에 따른 유 효세율의 추세를 분석하기 하여 1991년부터 2016년까지의 기간 동안 6,312 기업－연도 표본을 조사하다. 본 연구는 한 국외원천소득이 있는 기업의 국내 국외원천 유효세 율을 분석하다. 분석결과는 유효세율이 유의하게 감소하다는 것을 보여주고 있다. 유효세율의 감소는 다국기업에만 집되지 않았으며, 다국기업과 내국기업 모두 략 유사한 비율로 감소 하다. 다국기업의 경우 국외원천 유효세율과 국내원천 유효세율 모두 감소하다. 마지 막으로, 기업특성의 변화는 유효세율의 반인 감소의 일부만을 설명하고 있다. 추가분석 의 결과는 기업특성을 통제한 후에도 유효세율이 유의으로 감소하다는 분석결과를 발견 하다. 본 연구는 유효세율의 기간추세를 분석함으로써 조세회피 연구에 공헌한다. 한, 본 연구 는 유효세율의 결정요인 연구에 공한할 것이다.
Abstract
In this paper, we investigate the trend in corporate effective tax rates over the past 26 years. To investigate the existence of a trend in effective tax rates over time, we examine a sample of 6,312 firm－year from 1991 to 2016. We study the trend in effective tax rates. We also examine domestic and foreign effective tax rates, which we use to test domestic versus foreign rates for corporations that have income from foreign sources(multinational firms). The results show that the effective tax rates have decreased significantly. The decline in effective tax rates is not concentrated in multinational firms, effective tax rates have declined at approximately the similar rate for both multinational and domestic firms. Within multinational firms, both foreign and domestic effective tax rates have decreased. Finally, changes in firm characteristics explain little of the overall decrease in effective tax rates. The Result of additional analysis suggests, that even after controlling for firm characteristics, we continue to see a significant decrease in effective tax rates over time. This paper contributes to the literature by executing an examination of time trends in corporate effective tax rates. And, this study is important for researchers interested in studying the determinants of effective tax rates.
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