Hasil Pencarian  ::  Simpan CSV :: Kembali

"Penelitian ini bertujuan untuk menguji pengaruh perbedaan tarif pajak antar negara terhadap penggunaan praktik transfer pricing dan thin capitalization untuk penghindaran pajak perusahaan. Penelitian ini juga menguji pengaruh karakteristik sistem perpajakan negara terhadap penggunaan praktik transfer pricing dan thin capitalization. Berbeda dengan penelitian sebelumnya yang menguji praktik transfer pricing dalam konteks makro atau hanya menguji transaksi penjualan, penelitian ini menguji transaksi yang lebih komprehensif, yaitu penjualan, pembelian, biaya jasa manajemen, dan pendapatan jasa manajemen ke pihak berelasi. Penelitian atas praktik thin capitalization dilakukan pada transaksi utang dan piutang berbunga jangka panjang ke pihak berelasi. Penelitian ini mengambil sampel anak perusahaan multinasional di 10 negara berkembang Asia pada periode 2010-2014. Sampel yang dipilih adalah perusahaan yang memiliki kepemilikan asing minimal 20% dan tidak memiliki anak  perusahaan atau hanya memiliki anak perusahaan lokal.Hasil penelitian menunjukkan bahwa perbedaan pajak antar negara mendorong penggunaan praktik transfer pricing pada transaksi pembelian, biaya jasa manajemen, dan pendapatan jasa manajemen namun tidak terbukti pada transaksi penjualan. Penelitian ini tidak dapat membuktikan bahwa perbedaan pajak antar negara dapat mendorong penggunaan praktik thin capitalization pada transaksi utang berbunga jangka panjang. Hal ini kemungkinan karena perusahaan menggunakan skema back to back loan atau parallel loan dalam melakukan pinjaman sehingga pinjaman dari pihak berelasi tidak bisa ditelusuri. Pada penelitian ini, penelusuran atas transaksi piutang berbunga jangka panjang menunjukkan bahwa hanya 2% dari observasi memiliki nilai transaksi piutang lebih besar daripada nol yang kemungkinan disebabkan perusahaan menggunakan skema back to back loan atau parallel loan sehingga pemberian piutang ke pihak berelasi tidak dapat terdeteksi.Hasil penelitian menunjukkan bahwa sistem Worldwide Income terbukti dapat memperlemah penggunaan praktik transfer pricing pada mayoritas transaksi yaitu transaksi penjualan, pembelian, dan biaya jasa manajemen, namun tidak terbukti mencegah praktik thin capitalization pada transaksi utang berbunga jangka panjang. Aturan specific anti-avoidance rule (SAAR) untuk transfer pricing terbukti meningkatkan efektifitas penegakan hukum pajak dalam mencegah praktik transfer pricing pada transaksi penjualan, namun tidak terbukti pada transaksi pembelian, biaya jasa manajemen, dan pendapatan jasa manajemen. Aturan specific anti-avoidance rule untuk thin capitalization tidak terbukti mencegah praktik thin capitalization. Penegakan hukum pajak yang tinggi terbukti membuat aturan SAAR menjadi lebih efektif mencegah praktik transfer pricing pada transaksi penjualan dan pembelian, namun tidak terbukti pada transaksi jasa manajemen. Aturan general anti-avoidance rule (GAAR) tidak terbukti memperlemah praktik transfer pricing dan thin capitalization.

---

This study aims to examine the effect of tax rate differences on transfer pricing and thin capitalization practices for corporate tax avoidance. This study also examined the effect of the characteristics of the taxation system on the use of transfer pricing and thin capitalization practices. In contrast to previous studies that tested the practice of transfer pricing in the macro context or only testing sales transactions, this study examined in more comprehensive transactions, namely sales, purchases, management service fee, and management service revenues to related parties. Research on the practice of thin capitalization is carried out on long-term interest-bearing loan and receivables transactions to related parties. This study takes a sample of multinational subsidiaries in ten Asian developing countries over a period of 2010-2014. The sample selected are companies that have at least 20% foreign ownership and does not have a subsidiary or only has a local subsidiary.The results show that the tax differences between countries encourage the use of transfer pricing practices in purchase, management service fee, and management service revenue transactions but are not proven in sales transactions. This study cannot prove that tax differences between countries encourage the use of the practice of thin capitalization in long-term interest-bearing loan transactions. This is probably because the company uses a back to back loan or parallel loan scheme in giving loans so that loans from related parties cannot be traced. In this study, tracing of long-term interest receivable transactions shows that only 2% of observations have the value of transaction receivables greater than zero, which may be caused by the company using a back to back loan or parallel loan scheme so that the receivables from related parties cannot be detected.The results show that the worldwide income system is proven to weaken the use of transfer pricing practices in the majority of transactions, namely sales, purchase, and management service fees, but it is not proven to prevent the practice of thin capitalization in long-term interest-bearing debt transactions. The specific anti-avoidance rule (SAAR) for transfer pricing is proven to increase the effectiveness of tax law enforcement in preventing transfer pricing practices in sales transactions, but not proven in purchasing transactions, management service fees, and management service revenues. The specific anti-avoidance rule for thin capitalization is not proven to prevent the practice of thin capitalization. High tax enforcement is proven to make SAAR rules more effective in preventing the transfer pricing practice in sales and purchase transactions, but not proven in management services transactions. The general anti-avoidance rule (GAAR) is not proven to weaken the practice of transfer pricing and thin capitalization."

"This study provides evidence on the role of accounting conservatism in debt contracting. I hypothesize that (I) there is positive association between conflicts of bondholders-shareholders over dividend policy and the use of conservative accounting (ii) there is positive association between bond ratings and the use of conservative accounting. Conflicts of bondholders-shareholders arise because of default risk in that the firm cannot pay at maturity because of having not enough net assets and this unavailability of enough net assets is caused by dividend overpayment to shareholders. The alternative solution to prevent dividend overpayment is to consistently use the conservative accounting. The conservative accounting affects earnings in that it leads to conservative earnings and reduces the possibility of earnings management by the firm. The second hypothesis which investigates the association between bonds rating and the level of conservatism based on theory that the lower the firm's default risk, the higher the bonds rating. The firms with conservative, accounting is expected to have lower default risk in that conservatism prevent dividend overpayment which cause the firm's net asset is not enough to pay at maturity. The first model result supports the hypothesis that there is positive association between conflicts of bondholders-shareholders and the use of conservative accounting. For the second model, the result does not support the hypothesis that there is a positive association between the bonds rating and the use of conservative accounting. The association between conflicts and conservative accounting provides evidence on the role of accounting conservatism in facing conflicts over dividend policy"

"Penelitian ini bertujuan untuk menguji apakah terdapat hubungan positif antara konflik bondholders-shareholders seputar kebijakan dividen yang dihadapi perusahaan dan penerapan akuntansi konservatif dan apakah terdapat hubungan positif antara peringkat obligasi perusahaan dan penerapan akuntansi konservatif Konflik bondholders-shareholders seputar kebijakan dividen timbul karena kekhawatiran bondholders bahwa perusahaan tidak dapat melunasi hutang yang jatuh tempo karena jumlah aktiva yang tidak mencukupi. Salah satu sumber tidak mencukupinya aktiva adalah karena adanya overpayment dividen kepada shareholders. Salah satu alternative dalam mencegah overpayment dividen adalah dengan menerapkan akuntansi konservatif karena akan menghasilkan labs yang konservatif yaitu laba yang mencerminkan kehati-hatian perusahaan dan mengurangi kemungkinan terjadinya earnings management oleh perusahaan. Maka dihipotesakan perusahaan yang menghadapi konflik bondholders-shareholders, akan menerapkan akuntansi konservatif Tingkat konservatisme perusahaan diukur dari selisih antara laba bersih dengan arus kas dari kegiatan operasi. Semakin kecil laba bersih dibandingkan dengan arus kas maka berarti perusahaan semakin banyak menangguhkan pendapatan yang belum terealisasi dan semakin cepat membebankan biaya. Artinya, akuntansi yang diterapkan adalah semakin konservatif Konflik diukur dengan melihat fluktuasi RDA, rasio pembayaran dividen dan rasio hutang. Hipotesa kedua yang menguji hubungan peringkat obligasi perusahaan dengan tingkat konservatisme perusahaan mengajukan teori bahwa semakin rendah resiko default perusahaan, maka semakin tinggi peringkat obligasinya. Dengan penerapan akuntansi konservatif diharapkan resiko default semakin rendah karena konservatisme akan mencegah overpayment dividen yang dapat menyebabkan aktiva perusahaan tidak mencukupi pada saat pelunasan obligasi.Hasil pengujian model pertama mendukung hipotesa bahwa terdapat hubungan positif antara konflik bondholders-shareholders dan penerapan akuntansi konservatif. Sedangkan untuk model kedua, hasilnya tidak mendukung hipotesa bahwa peringkat obligasi memiliki hubungan positif dengan akuntansi konservatif. Adanya hubungan positif antara konflik dan penerapan akuntansi konservatif mencerminkan bahwa konservatisme merupakan salah satu alat yang digunakan perusahaan dalam menghadapi konflik seputar kebijakan dividen.

---

This study provides evidence on the role of accounting conservatism in debt contracting. I hypothesize that (i) there is positive association between conflicts of bondholders-shareholders over dividend policy and the use of conservative accounting (ii) there is positive association between bond ratings and the use of conservative accounting. Conflicts of bondholders-shareholders arise because of default risk in that the firm cannot pay the maturity debt because of having not enough net assets. The unavailability of enough net assets is caused by dividend overpayment to shareholders. The alternative to prevent dividend overpayment is to consistently use the conservative accounting. The conservative accounting affects earnings in that it leads to conservative earnings and reduces the possibility of earnings management by the firm. So, I hypothesize that firms facing conflicts of bondholders-shareholders over dividend policy will use conservative accounting. Conservatism is measured by the difference between net income and operating cash flow. The lower net income than cash flow means the firm defers more unrealized revenues and expense cost rapidly when incurred. It means, the firm use more conservative accounting. The conflicts are measured by the variability of ROA, dividend payment ratio and debt ratio. The second hypothesis which investigates the association between bonds rating and the level of conservatism based on theory that the lower the firm's default risk, the higher the bonds rating. The firms with conservative accounting is expected to have lower default risk in that conservatism prevent dividend overpayment which cause the firm's net asset is not enough to pay maturity bonds.

The first model result supports the hypothesis that there is positive association between conflicts of bondholders-shareholders and the use of conservative accounting. For the second model, the result do not support the hypothesis that there is a positive association between the bonds rating and the use of conservative accounting. The association between conflicts and conservative accounting provides evidence on the role of accounting conservatism in facing conflicts over dividend policy."