Error corrections: Tax and accounting view

Income Tax Accounting under the Tax Consolidation System

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Post-BEPS Tax Advisory and Tax Structuring from a Tax Practitioner’s View

The international tax landscape is changing and it is changing fast. The political perception is that taxation of multinational enterprises is not aligned with the ‘economic activity’ that produces their profits (i.e. not aligned with ‘value creation’). The perception links ‘value creation’ with ‘employees and sales’. In the BEPS Project of the OECD, the OECD attempts to combat base erosion and...

Investment, Accounting, and the Salience of the Corporate Income Tax

This paper develops the argument that accounting rules make the corporate income tax less salient and less distortionary by obscuring the timing of tax payments. I develop and estimate a model of investment where firms maximize a discounted weighted average of after-tax cash flows and accounting profits. The cost of capital, the tax wedge on the return on capital, and the impact of tax incentiv...

International Lease Accounting and Tax Consequences: The Hong Kong Perspective

Additions and Corrections