纳税筹划与盈余管理
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摘要
“只有死亡和纳税是逃脱不了的”,这是英美国家早就流传的名言。
1935年英国上议院汤姆林勋爵在“国内税务局专员与威斯敏斯特公爵诉讼案”中,有一段著名的司法声明:“任何人都有权根据恰当的法律来安排他的事务,使缴纳的税收比没有这样安排的要少。如果他成功地这样安排,使缴纳的税收减少了,那尽管国内税务局专员或其他纳税人可能不欣赏他的精心筹划,他是不能被强迫多缴纳税收的。”自此,英国及许多受英国影响的国家的税务案例,都在对照这一判例的精神来处理纳税人的税务筹划,即本文定义的纳税筹划。
纳税筹划的根本出发点在于依托税收政策法规的合理导向,通过资本、资源的有效配置,获取收益与税负的最佳配比,从而使税后利益最大化。纳税筹划是社会经济发展到一定阶段的产物,同时,它的纵深发展又促进了经济和社会的发展,在现代经济生活中具有深远的意义。
根据现代企业理论,企业实际上是由企业与股东、债权人、政府、职工等之间的契约组成的“契约的联结”。在我国的税收征管体系中,政府与企业的税负契约是以会计数据及相关行为决定税负大小的重要指标。在履约过程中,投资者与经营者由于掌握着公司真实的会计信息,自然会主动、有目的地利用信息的不对称性和契约的不完备性,来左右会计数据及其相关行为,减轻税负,谋取自身利益。因而,纳税筹划和企业的经营行为息息相关,是一种高层次理财活动,是企业进行盈余管理的必要手段。随着我国现代企业制度的建立,企业的经营决策权进一步扩大,进行纳税筹划和盈余管理的能力就越强。另一方面,随着我国市场经济体制的建立、税收法规体系的进一步健全、保证纳税人权利的制度进一步法律化和透明化,纳税人的权利得到了有效保障,这正是纳税筹划产生和开展的基本条件。随着我国会计工作与国际进一步接轨,及会计准则体系的进一步建立和完善,企业会计政策、会计方法和会计估计的选择空间显著增大,这对其经营成果的大小会产生直接影响。因此,在税法许可的前提下,利用会计方法的可选择性进行合理的财务安排,使得纳税筹划的可能性和盈余管理的空间大大增加。相应地,企业进行纳税筹划为手段的盈余管理及其经济后果变得更为复杂多变。
自Modigliani & Miller(1963)考虑了税收因素的影响而修正了由二者于1958年创建的MM理论,从而建立新MM理论进行研究以来,西方关于所得税影响公司资本结构、股利分配等方面财务政策选择的研究已经比较完善。近年来,尽管也出现了一些有关税收利益影响会计政策选择的文献,但研究较为零散且不够深入,未见有人系统性地研究纳税筹划与盈余管理的关系等问题。
会计和税法体现不同的经济关系,遵循不同的原则,服务于不同的目的。两种制度的不同必然导致会计-税收差异(Book-Tax Difference),具体体现为会计损益与企业所得税应税损益之间的差异,即会计-应税损益差异。显然,可将这种差异就作为研究纳税筹划和盈余管理问题的切入点。
在中国,最近几年有不少学者对税收与会计选择之间的关系进行了介绍,但未进行系统深入地研究。同时,中国理论与实务界的相关研究,大凡停留在对会计和税收两种制度条款之间差异进行定性比较,鲜有文献对两种制度差异背景下企业的纳税筹划与盈余管理行为进行研究,更鲜有人对新会计准则和受其影响出台的新企业所得税制度下的纳税筹划与盈余管理关系等问题进行实证研究。
鉴于此,本人以会计-应税损益差异为内含逻辑起点,采用理论和实证研究相结合的方法,尝试系统、深入地探究在新会计准则背景下企业的纳税筹划,其与盈余管理的关系及其对会计信息披露的启示等问题。一方面力争在理论与研究方法上有所突破,并系统地分析中国的问题,以弥补国内外理论界在该领域研究的不足。同时,也为国内读者介绍西方该领域的相关研究文献。笔者相信,本文的研究,将具有一定的理论价值与现实意义。
全文主要讨论以下七个方面的内容:(1)导论;(2)相关理论基础;(3)纳税筹划与盈余管理的基本问题分析;(4)新会计准则及其对纳税筹划的影响;(5)纳税筹划与盈余管理的实证分析;(6)纳税筹划对会计信息披露的启示;(7)研究结论、政策建议及研究展望。
全文以相关基本理论的分析为前提,以纳税筹划的概念界定及学科定位为基础,以会计-应税损益差异为内含逻辑起点,探讨新会计准则对纳税筹划的影响,对新会计准则背景下的纳税筹划与盈余管理进行定量研究,并分析纳税筹划对会计信息披露的启示等问题。本文规范思考和实证检验的主要脉络如下:
1、导论。本章主要介绍论文的研究背景及意义,对相关中西方文献进行综述,介绍论文结构、研究思路及方法,并总结论文的创新与不足。
2、相关理论基础。本章主要是对与本文研究相关的基础理论进行介绍和分析,本文研究涉及的主要理论有:经济人的有限理性,信息的不完备性,企业行为的机会主义性,资本市场的有效性,博弈论及契约理论,以及纳税筹划的基本原理。通过对相关基础理论的分析,旨在为全文奠定坚实的理论基础。
3、纳税筹划和盈余管理的基本问题分析。笔者认为,税收筹划,是一个内涵较广的概念,包括征税筹划和纳税筹划,而纳税筹划在学科定位上归属于财务管理学的范畴。本文的研究以纳税主体对其所得进行纳税筹划的概念为基础,追溯纳税筹划的产生和发展,总结其必要性和研究意义。通过对会计损益与应税损益的概念界定,指出会计损益与应税损益的差异所在及其相互关系,是进行有效的纳税筹划的前提,也是分析纳税筹划和盈余管理关系的纽带,由此推论出其构成本文研究的内含逻辑起点。通过对本章内容的逐一研究和分析,旨在理清本文研究的内涵和外延,为后文的研究明确范围,也从规范理论分析方面为后文研究作出有益的支撑。
4、新会计准则及其对纳税筹划的影响。在本章中,笔者首先对新会计准则进行介绍,指出在经济全球化和我国市场经济快速发展的今天,新会计准则的产生背景、意义及主要内容。继而,通过对比新旧会计准则及对所得税会计准则的介绍,以分析新企业所得税法的制定背景、内容,及新会计准则对新企业所得税法的影响。最后,在此基础上,分析新会计准则对企业所得税及其纳税筹划的影响。通过本章的研究,为后文对在新会计准则影响下的企业纳税筹划和盈余管理行为关系的实证研究,作出制度和政策背景的铺垫。
5、纳税筹划与盈余管理的实证分析。本章作为本文研究的必要组成部分,既是对前文理论分析和政策背景铺垫的落实,又是对本文试图探索的盈余管理与纳税筹划的关系的印证,具有重要的意义。本章首先用一个引子,交待了笔者进行实证研究的意图和试图解决的问题,接着对相关文献进行了回顾,进而进行了研究设计、样本选择和描述性统计,继而得出实证分析结果,研究结论主要如下:公司在进行盈余管理时,会考虑采用纳税筹划手段减少所得税费用支出,从而增加公司留存收益的总额。为了实现这一目的,理性的公司管理层有可能会充分地利用税法与会计制度之间的不同规定,及新旧会计准则的差异,调减高税率或低优惠年度的经营性会计损益至低税率或高优惠年度,以平滑各期的所得税成本。笔者通过考察2005～2007年中国A股上市公司的所得税费用的变化额度同操控性税后应计损益的关系情况,证实了该结论具有普遍性。并且,检验结果也表明,考察期各年所得税费用变化额度(即以纳税筹划为手段的盈余管理水平)在新会计准则实施前后有明显的变化,并在新会计准则实施前的年度内,可操控性税后应计利润平均值远大于其实施后年度的可操控性税后应计利润平均值。从而说明,新会计准则的实施,对以纳税筹划为手段的盈余管理行为起到了有效抑制。研究同时发现,上市公司的确存在通过纳税筹划影响所得税费用支出,从而使操控性税后利润数额变大,实现总体盈余管理幅度增大的普遍现象。可见,从最大化股东财富的角度看,纳税筹划与基于所得的盈余管理行为具有一定的共性,纳税筹划也是基于所得的盈余管理的手段或途径之一。但是,中国目前的纳税筹划研究基本上停留于税法与会计制度条文的异同分析层面,基本没有开展相应的实证研究。因此,开展该领域的盈余管理实证研究也可一定程度地拓宽纳税筹划研究的内容,并可相应改变纳税筹划领域的研究范式。对此,希望本文的肤浅研究,能够起到抛砖引玉的积极作用。
6、纳税筹划对会计信息披露的启示。本章首先采用归纳法,对会计信息的质量、披露及披露存在的问题进行一般性的分析,并引入新会计准则的影响,分析新会计准则下上市公司会计信息披露的基本框架,及新会计准则对上市公司会计信息披露的贡献。继而,采用演绎法,由一般到特殊地分析所得税会计信息披露的特点,新会计准则对所得税会计信息披露的规定,并对比资本市场对纳税筹划下会计信息的要求,发现新会计准则对所得税会计信息披露规定的不足,由此,进一步分析纳税筹划对所得税会计信息披露的启示。通过本章的规范研究,旨在体现全文研究主题的应用价值。
7、研究结论、政策建议及研究展望。所得税的纳税筹划是影响盈余管理的主要因素之一,因此必将成为盈余管理研究的一个不可缺少的领域。本文以会计-税收差异为内含逻辑起点,在新会计准则背景下,对纳税筹划与盈余管理之间进行关联研究,且研究取得预期效果,并对由此引出的对会计信息披露的启示及对之的政策性建议进行探讨。中国理论界在该领域的研究还较少,囿于学术水平、认知能力和资料来源的限制,本文对纳税筹划与盈余管理关系问题的研究也仅是一种尝试。尽管如此,本文的研究还是有一定的理论和现实意义,不但有助于梳理该领域研究的脉络和发展方向,而且能给今后的研究以启迪。从研究的整个过程中,笔者有如下启示及展望:(1)运用经济理论和实证分析方法解释制度变迁;(2)全面权衡盈余管理的经济后果;(3)谨慎性原则的运用与考量所得课税的盈余管理相互交织;(4)区分上市公司与非上市公司进行研究;(5)新准则与新税制实施后的相关研究。
"Only death and paying taxes can’t escape." It has been famous in Britain and the United States for a long time.
The fundamental starting point of tax planning is based on the reasonable direction of tax policies and regulations, through the effective allocation of capital and resources, access to the best ratio of income and tax burden, thus maximizing the tax benefits. Tax planning is the specific product of the economic and social development on a certain stage. At the same time, its depth development promotes the economic and social development in modern economic life and has far-reaching significance.
Since Modigliani & Miller (1963) took into account the impact of tax and amended the MM theory, which was created in 1958 by them, then created the new MM theory, the research in the impaction of corporate income tax on company's capital structure, dividend distribution, and other aspects of financial policy choices in West has been more perfect. However, there have been some literatures in which tax impacts on accounting policy choices in recent years, the research is on a more fragmented way. Nearly no study has analyzed the topic of the tax planning under the influence of new accounting and tax system, and in this context the relations of tax planning and earnings management.
With China's accounting standards reform pushing forward steadily, enterprises have had more choices of accounting policies and accounting estimates,the space of autonomy of earnings management is increasing gradually. Although there have been sporadic introductions about this topic in recent years, but little systematic and in-depth study. At the same time, the discussion of tax planning just remains in qualitative comparison between the terms of two systems, few literature conducted quantitative study on it, and almost nobody did empirical study about the behaviors and their relations of tax planning and earnings management and so on.
I chose Book-tax difference as the starting point, use the combined method of theoretical and empirical research, trying to explore in depth the new accounting standards in the context of corporate tax planning, the relationship with earnings management, and enlightenment on disclosure of accounting information. On the one hand, this paper strives to achieve a breakthrough research in the theory, the methods and systematic analysis of China's problems, both to make up for the field of theoretical research at home and abroad. At the same time, to introduce readers to the field of Western literature research. I believe that this paper will have a theoretical value and practical significance to some extent.
This paper is discussed mainly in seven aspects as follows: (1) Introduction; (2) The related theoretical basis; (3) The fundamental question of tax planning and earnings management analysis; (4) The New accounting standards and their impact on tax planning;(5) Empirical analysis of tax planning and earnings management; (6) The revelation of tax Planning for the disclosure of accounting information; (7) Research findings, policy recommendations and research prospects.
1. Introduction. This chapter introduces the research background and the meaning of the relevant literature which is reviewed at home and abroad, introduced the paper structure, research ideas and methods, and summarizes the thesis and the lack of innovation.
2. The related theoretical basis. This chapter is mainly talked about the related theories, which make up the basis of this paper. The major theories are: the economy's limited rationality, incomplete information, the opportunistic behavior of enterprises, the effectiveness of the capital market, the game theory and the contract theory. At the same time, the basic principles of tax planning are analyzed. Through analysis of the relevant basic theory, the chapter aims to lay a solid theoretical basis.
3. The fundamental question of tax planning and earnings management analysis. Tax planning is a broader concept of connotation, and seats in the subject belonging to the scope of financial management. This article is based on tax planning with enterprises as the mainstay of their income tax, tracing the emergence and development of tax planning, and summing up the necessity and significance of the study. Pointing out the accounting profit or loss and taxable profit or loss, the differences and their mutual relations, is the prerequisite for tax planning effectively, and the link with analysis of the relationship between earnings management. By research and analysis, this chapter aims not only to clarify the connotation and extension, and the precise scope of the study, but also to support usefully on theory for the post-study of the text.
4. The New accounting standards and their impact on tax planning. This chapter points out the background of the new accounting standards, their significance and main content. Then, by comparing the old with the new accounting standards, it introduces the income tax accounting standards, and analyses of the new Enterprise Income Tax Law of the development, the background, and the content. Finally, on this basis, it analyses of new accounting standards on corporate income tax and the impact of tax planning. This chapter is in order to bedding policy background to the empirical research on corporate tax planning and the relationship between earnings management behavior under the influence of the new accounting standards.
5. Empirical analysis of tax planning and earnings management. The chapter is a necessary component of this paper, it is not only the implementation of the theoretical analysis and policy background in former, but also the confirmation of relationship between tax planning and the earnings management this article attempts to explore. First of all, with an introduction of this chapter, the author set out the intention to carry out empirical studies and attempt to resolve the problem, then reviewing the related literature and then conducted a study design, sample selection and descriptive statistics, and then arrive at the results of empirical analysis.
6. The revelation of tax planning for the disclosure of accounting information. First of all, this chapter analyses generally the quality and the disclosure and the problems of accounting information, then analyses of the basic framework of disclosure under the new accounting standards, and the contribution of new accounting standards accounting information of listed companies to disclosure. Then, using deductive method, it analyses of the characteristics of the information disclosure of income tax accounting, the requirements of new accounting standards on accounting to disclosure, thus, further analysis of the enlightenment of income tax planning for the disclosure of accounting information. This chapter intents to reflect the application value of research of the full text.
7. Research findings, policy recommendations and research prospects. This paper uses the book-tax difference between the as the contained logic starting point for the context, and studies on the association between tax planning and earnings management under the impact of new accounting standards, and receives the expected effects, then, on this basis, it analyses of the enlightenment of tax planning to the disclosure of accounting information, and discusses of the policy recommendations. Finally, the author puts forward the following prospects:(1)The use of economic theory and empirical analysis to explain the system change; (2)Comprehensive weigh the economic consequences of earnings management;(3) The intertwined relationship between the application of the principle of caution and income tax-earnings management; (4) Distinguished researches between listed companies and non-listed companies; (5) The related research with the implementation of the new tax system and the new accounting guidelines in China.
1935年英国上议院汤姆林勋爵在“国内税务局专员与威斯敏斯特公爵诉讼案”中,有一段著名的司法声明:“任何人都有权根据恰当的法律来安排他的事务,使缴纳的税收比没有这样安排的要少。如果他成功地这样安排,使缴纳的税收减少了,那尽管国内税务局专员或其他纳税人可能不欣赏他的精心筹划,他是不能被强迫多缴纳税收的。”自此,英国及许多受英国影响的国家的税务案例,都在对照这一判例的精神来处理纳税人的税务筹划,即本文定义的纳税筹划。
纳税筹划的根本出发点在于依托税收政策法规的合理导向,通过资本、资源的有效配置,获取收益与税负的最佳配比,从而使税后利益最大化。纳税筹划是社会经济发展到一定阶段的产物,同时,它的纵深发展又促进了经济和社会的发展,在现代经济生活中具有深远的意义。
根据现代企业理论,企业实际上是由企业与股东、债权人、政府、职工等之间的契约组成的“契约的联结”。在我国的税收征管体系中,政府与企业的税负契约是以会计数据及相关行为决定税负大小的重要指标。在履约过程中,投资者与经营者由于掌握着公司真实的会计信息,自然会主动、有目的地利用信息的不对称性和契约的不完备性,来左右会计数据及其相关行为,减轻税负,谋取自身利益。因而,纳税筹划和企业的经营行为息息相关,是一种高层次理财活动,是企业进行盈余管理的必要手段。随着我国现代企业制度的建立,企业的经营决策权进一步扩大,进行纳税筹划和盈余管理的能力就越强。另一方面,随着我国市场经济体制的建立、税收法规体系的进一步健全、保证纳税人权利的制度进一步法律化和透明化,纳税人的权利得到了有效保障,这正是纳税筹划产生和开展的基本条件。随着我国会计工作与国际进一步接轨,及会计准则体系的进一步建立和完善,企业会计政策、会计方法和会计估计的选择空间显著增大,这对其经营成果的大小会产生直接影响。因此,在税法许可的前提下,利用会计方法的可选择性进行合理的财务安排,使得纳税筹划的可能性和盈余管理的空间大大增加。相应地,企业进行纳税筹划为手段的盈余管理及其经济后果变得更为复杂多变。
自Modigliani & Miller(1963)考虑了税收因素的影响而修正了由二者于1958年创建的MM理论,从而建立新MM理论进行研究以来,西方关于所得税影响公司资本结构、股利分配等方面财务政策选择的研究已经比较完善。近年来,尽管也出现了一些有关税收利益影响会计政策选择的文献,但研究较为零散且不够深入,未见有人系统性地研究纳税筹划与盈余管理的关系等问题。
会计和税法体现不同的经济关系,遵循不同的原则,服务于不同的目的。两种制度的不同必然导致会计-税收差异(Book-Tax Difference),具体体现为会计损益与企业所得税应税损益之间的差异,即会计-应税损益差异。显然,可将这种差异就作为研究纳税筹划和盈余管理问题的切入点。
在中国,最近几年有不少学者对税收与会计选择之间的关系进行了介绍,但未进行系统深入地研究。同时,中国理论与实务界的相关研究,大凡停留在对会计和税收两种制度条款之间差异进行定性比较,鲜有文献对两种制度差异背景下企业的纳税筹划与盈余管理行为进行研究,更鲜有人对新会计准则和受其影响出台的新企业所得税制度下的纳税筹划与盈余管理关系等问题进行实证研究。
鉴于此,本人以会计-应税损益差异为内含逻辑起点,采用理论和实证研究相结合的方法,尝试系统、深入地探究在新会计准则背景下企业的纳税筹划,其与盈余管理的关系及其对会计信息披露的启示等问题。一方面力争在理论与研究方法上有所突破,并系统地分析中国的问题,以弥补国内外理论界在该领域研究的不足。同时,也为国内读者介绍西方该领域的相关研究文献。笔者相信,本文的研究,将具有一定的理论价值与现实意义。
全文主要讨论以下七个方面的内容:(1)导论;(2)相关理论基础;(3)纳税筹划与盈余管理的基本问题分析;(4)新会计准则及其对纳税筹划的影响;(5)纳税筹划与盈余管理的实证分析;(6)纳税筹划对会计信息披露的启示;(7)研究结论、政策建议及研究展望。
全文以相关基本理论的分析为前提,以纳税筹划的概念界定及学科定位为基础,以会计-应税损益差异为内含逻辑起点,探讨新会计准则对纳税筹划的影响,对新会计准则背景下的纳税筹划与盈余管理进行定量研究,并分析纳税筹划对会计信息披露的启示等问题。本文规范思考和实证检验的主要脉络如下:
1、导论。本章主要介绍论文的研究背景及意义,对相关中西方文献进行综述,介绍论文结构、研究思路及方法,并总结论文的创新与不足。
2、相关理论基础。本章主要是对与本文研究相关的基础理论进行介绍和分析,本文研究涉及的主要理论有:经济人的有限理性,信息的不完备性,企业行为的机会主义性,资本市场的有效性,博弈论及契约理论,以及纳税筹划的基本原理。通过对相关基础理论的分析,旨在为全文奠定坚实的理论基础。
3、纳税筹划和盈余管理的基本问题分析。笔者认为,税收筹划,是一个内涵较广的概念,包括征税筹划和纳税筹划,而纳税筹划在学科定位上归属于财务管理学的范畴。本文的研究以纳税主体对其所得进行纳税筹划的概念为基础,追溯纳税筹划的产生和发展,总结其必要性和研究意义。通过对会计损益与应税损益的概念界定,指出会计损益与应税损益的差异所在及其相互关系,是进行有效的纳税筹划的前提,也是分析纳税筹划和盈余管理关系的纽带,由此推论出其构成本文研究的内含逻辑起点。通过对本章内容的逐一研究和分析,旨在理清本文研究的内涵和外延,为后文的研究明确范围,也从规范理论分析方面为后文研究作出有益的支撑。
4、新会计准则及其对纳税筹划的影响。在本章中,笔者首先对新会计准则进行介绍,指出在经济全球化和我国市场经济快速发展的今天,新会计准则的产生背景、意义及主要内容。继而,通过对比新旧会计准则及对所得税会计准则的介绍,以分析新企业所得税法的制定背景、内容,及新会计准则对新企业所得税法的影响。最后,在此基础上,分析新会计准则对企业所得税及其纳税筹划的影响。通过本章的研究,为后文对在新会计准则影响下的企业纳税筹划和盈余管理行为关系的实证研究,作出制度和政策背景的铺垫。
5、纳税筹划与盈余管理的实证分析。本章作为本文研究的必要组成部分,既是对前文理论分析和政策背景铺垫的落实,又是对本文试图探索的盈余管理与纳税筹划的关系的印证,具有重要的意义。本章首先用一个引子,交待了笔者进行实证研究的意图和试图解决的问题,接着对相关文献进行了回顾,进而进行了研究设计、样本选择和描述性统计,继而得出实证分析结果,研究结论主要如下:公司在进行盈余管理时,会考虑采用纳税筹划手段减少所得税费用支出,从而增加公司留存收益的总额。为了实现这一目的,理性的公司管理层有可能会充分地利用税法与会计制度之间的不同规定,及新旧会计准则的差异,调减高税率或低优惠年度的经营性会计损益至低税率或高优惠年度,以平滑各期的所得税成本。笔者通过考察2005～2007年中国A股上市公司的所得税费用的变化额度同操控性税后应计损益的关系情况,证实了该结论具有普遍性。并且,检验结果也表明,考察期各年所得税费用变化额度(即以纳税筹划为手段的盈余管理水平)在新会计准则实施前后有明显的变化,并在新会计准则实施前的年度内,可操控性税后应计利润平均值远大于其实施后年度的可操控性税后应计利润平均值。从而说明,新会计准则的实施,对以纳税筹划为手段的盈余管理行为起到了有效抑制。研究同时发现,上市公司的确存在通过纳税筹划影响所得税费用支出,从而使操控性税后利润数额变大,实现总体盈余管理幅度增大的普遍现象。可见,从最大化股东财富的角度看,纳税筹划与基于所得的盈余管理行为具有一定的共性,纳税筹划也是基于所得的盈余管理的手段或途径之一。但是,中国目前的纳税筹划研究基本上停留于税法与会计制度条文的异同分析层面,基本没有开展相应的实证研究。因此,开展该领域的盈余管理实证研究也可一定程度地拓宽纳税筹划研究的内容,并可相应改变纳税筹划领域的研究范式。对此,希望本文的肤浅研究,能够起到抛砖引玉的积极作用。
6、纳税筹划对会计信息披露的启示。本章首先采用归纳法,对会计信息的质量、披露及披露存在的问题进行一般性的分析,并引入新会计准则的影响,分析新会计准则下上市公司会计信息披露的基本框架,及新会计准则对上市公司会计信息披露的贡献。继而,采用演绎法,由一般到特殊地分析所得税会计信息披露的特点,新会计准则对所得税会计信息披露的规定,并对比资本市场对纳税筹划下会计信息的要求,发现新会计准则对所得税会计信息披露规定的不足,由此,进一步分析纳税筹划对所得税会计信息披露的启示。通过本章的规范研究,旨在体现全文研究主题的应用价值。
7、研究结论、政策建议及研究展望。所得税的纳税筹划是影响盈余管理的主要因素之一,因此必将成为盈余管理研究的一个不可缺少的领域。本文以会计-税收差异为内含逻辑起点,在新会计准则背景下,对纳税筹划与盈余管理之间进行关联研究,且研究取得预期效果,并对由此引出的对会计信息披露的启示及对之的政策性建议进行探讨。中国理论界在该领域的研究还较少,囿于学术水平、认知能力和资料来源的限制,本文对纳税筹划与盈余管理关系问题的研究也仅是一种尝试。尽管如此,本文的研究还是有一定的理论和现实意义,不但有助于梳理该领域研究的脉络和发展方向,而且能给今后的研究以启迪。从研究的整个过程中,笔者有如下启示及展望:(1)运用经济理论和实证分析方法解释制度变迁;(2)全面权衡盈余管理的经济后果;(3)谨慎性原则的运用与考量所得课税的盈余管理相互交织;(4)区分上市公司与非上市公司进行研究;(5)新准则与新税制实施后的相关研究。
"Only death and paying taxes can’t escape." It has been famous in Britain and the United States for a long time.
The fundamental starting point of tax planning is based on the reasonable direction of tax policies and regulations, through the effective allocation of capital and resources, access to the best ratio of income and tax burden, thus maximizing the tax benefits. Tax planning is the specific product of the economic and social development on a certain stage. At the same time, its depth development promotes the economic and social development in modern economic life and has far-reaching significance.
Since Modigliani & Miller (1963) took into account the impact of tax and amended the MM theory, which was created in 1958 by them, then created the new MM theory, the research in the impaction of corporate income tax on company's capital structure, dividend distribution, and other aspects of financial policy choices in West has been more perfect. However, there have been some literatures in which tax impacts on accounting policy choices in recent years, the research is on a more fragmented way. Nearly no study has analyzed the topic of the tax planning under the influence of new accounting and tax system, and in this context the relations of tax planning and earnings management.
With China's accounting standards reform pushing forward steadily, enterprises have had more choices of accounting policies and accounting estimates,the space of autonomy of earnings management is increasing gradually. Although there have been sporadic introductions about this topic in recent years, but little systematic and in-depth study. At the same time, the discussion of tax planning just remains in qualitative comparison between the terms of two systems, few literature conducted quantitative study on it, and almost nobody did empirical study about the behaviors and their relations of tax planning and earnings management and so on.
I chose Book-tax difference as the starting point, use the combined method of theoretical and empirical research, trying to explore in depth the new accounting standards in the context of corporate tax planning, the relationship with earnings management, and enlightenment on disclosure of accounting information. On the one hand, this paper strives to achieve a breakthrough research in the theory, the methods and systematic analysis of China's problems, both to make up for the field of theoretical research at home and abroad. At the same time, to introduce readers to the field of Western literature research. I believe that this paper will have a theoretical value and practical significance to some extent.
This paper is discussed mainly in seven aspects as follows: (1) Introduction; (2) The related theoretical basis; (3) The fundamental question of tax planning and earnings management analysis; (4) The New accounting standards and their impact on tax planning;(5) Empirical analysis of tax planning and earnings management; (6) The revelation of tax Planning for the disclosure of accounting information; (7) Research findings, policy recommendations and research prospects.
1. Introduction. This chapter introduces the research background and the meaning of the relevant literature which is reviewed at home and abroad, introduced the paper structure, research ideas and methods, and summarizes the thesis and the lack of innovation.
2. The related theoretical basis. This chapter is mainly talked about the related theories, which make up the basis of this paper. The major theories are: the economy's limited rationality, incomplete information, the opportunistic behavior of enterprises, the effectiveness of the capital market, the game theory and the contract theory. At the same time, the basic principles of tax planning are analyzed. Through analysis of the relevant basic theory, the chapter aims to lay a solid theoretical basis.
3. The fundamental question of tax planning and earnings management analysis. Tax planning is a broader concept of connotation, and seats in the subject belonging to the scope of financial management. This article is based on tax planning with enterprises as the mainstay of their income tax, tracing the emergence and development of tax planning, and summing up the necessity and significance of the study. Pointing out the accounting profit or loss and taxable profit or loss, the differences and their mutual relations, is the prerequisite for tax planning effectively, and the link with analysis of the relationship between earnings management. By research and analysis, this chapter aims not only to clarify the connotation and extension, and the precise scope of the study, but also to support usefully on theory for the post-study of the text.
4. The New accounting standards and their impact on tax planning. This chapter points out the background of the new accounting standards, their significance and main content. Then, by comparing the old with the new accounting standards, it introduces the income tax accounting standards, and analyses of the new Enterprise Income Tax Law of the development, the background, and the content. Finally, on this basis, it analyses of new accounting standards on corporate income tax and the impact of tax planning. This chapter is in order to bedding policy background to the empirical research on corporate tax planning and the relationship between earnings management behavior under the influence of the new accounting standards.
5. Empirical analysis of tax planning and earnings management. The chapter is a necessary component of this paper, it is not only the implementation of the theoretical analysis and policy background in former, but also the confirmation of relationship between tax planning and the earnings management this article attempts to explore. First of all, with an introduction of this chapter, the author set out the intention to carry out empirical studies and attempt to resolve the problem, then reviewing the related literature and then conducted a study design, sample selection and descriptive statistics, and then arrive at the results of empirical analysis.
6. The revelation of tax planning for the disclosure of accounting information. First of all, this chapter analyses generally the quality and the disclosure and the problems of accounting information, then analyses of the basic framework of disclosure under the new accounting standards, and the contribution of new accounting standards accounting information of listed companies to disclosure. Then, using deductive method, it analyses of the characteristics of the information disclosure of income tax accounting, the requirements of new accounting standards on accounting to disclosure, thus, further analysis of the enlightenment of income tax planning for the disclosure of accounting information. This chapter intents to reflect the application value of research of the full text.
7. Research findings, policy recommendations and research prospects. This paper uses the book-tax difference between the as the contained logic starting point for the context, and studies on the association between tax planning and earnings management under the impact of new accounting standards, and receives the expected effects, then, on this basis, it analyses of the enlightenment of tax planning to the disclosure of accounting information, and discusses of the policy recommendations. Finally, the author puts forward the following prospects:(1)The use of economic theory and empirical analysis to explain the system change; (2)Comprehensive weigh the economic consequences of earnings management;(3) The intertwined relationship between the application of the principle of caution and income tax-earnings management; (4) Distinguished researches between listed companies and non-listed companies; (5) The related research with the implementation of the new tax system and the new accounting guidelines in China.
引文
①比如,自Modigliani和Miller(1958,1963)开创性的研究以来,西方关于企业所得税影响公司资本结构、股利分配等方面财务政策选择的研究不断深化,系列研究的体系也日益完善。
②参见魏明海、谭劲松、林舒,盈利管理研究,第12页,中国财政经济出版社,2006.9。
③参见魏明海、谭劲松、林舒,盈利管理研究,第3、15页,中国财政经济出版社,2006.9。
①这里的分析借鉴了Victor Goldberg(1980)对关系交易协议的分析结论,参见普特曼、克罗茨纳,企业的经济性质,第55～56页,上海财经大学出版社,2000。
①卡洛·M·奇波主编:欧洲经济史(第一卷),转引自叶青,财政与会计关系史比较研究,第133页,中国财政经济出版社,2000年版。
①参见国家税务总局税收科学研究所,西方税收理论,第184～185页,中国财政经济出版社,1997。
②曾繁正等.财政管理学[M]红旗出版社,1998 171～172 .
①孙峥嵘,《会计-税收差异、盈余管理及市场反应》,西南财经大学博士论文,2008。
①孙峥嵘,《会计-税收差异、盈余管理及市场反应》,西南财经大学博士论文,2008。
①参见:李东平,大股东控制、盈余管理与上市公司业绩滑坡,p117,中国财政经济出版社,2005年版。
①参见:李东平,大股东控制、盈余管理与上市公司业绩滑坡,第117页,中国财政经济出版社,2005年5月版。
①转引自王志强,税收与公司财务政策选择,第5页,中国商务出版社,2004.6。
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③参见魏明海、谭劲松、林舒,盈利管理研究,第3、15页,中国财政经济出版社,2006.9。
①这里的分析借鉴了Victor Goldberg(1980)对关系交易协议的分析结论,参见普特曼、克罗茨纳,企业的经济性质,第55～56页,上海财经大学出版社,2000。
①卡洛·M·奇波主编:欧洲经济史(第一卷),转引自叶青,财政与会计关系史比较研究,第133页,中国财政经济出版社,2000年版。
①参见国家税务总局税收科学研究所,西方税收理论,第184～185页,中国财政经济出版社,1997。
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