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Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We present quasi-experimental evidence that the timing of tax deductions matters for investments. Using firm-level data for Norway and the UK over 1995–2015, we estimate the effects of introducing immediate tax refunds paid out in cash in the Norwegian petroleum sector. We find a 63% increase in exploration investment and a 23% increase in the number of oil and gas discoveries. Consistent with the presence of financial frictions, the cash injection led oil companies to invest in projects that were economically profitable on average. The response was strongest among the firms most likely to be financially constrained. In sum, our empirical findings support the hypothesis that the timing of resource rent taxes matters when firms face financial frictions. [ABSTRACT FROM AUTHOR]

This article reveals the source of exporters' better environmental performance (exporters' environmental premium) for Chinese firms with a model based on heterogeneous firm theory and empirical analysis with a difference‐in‐differences method based on the Chinese export tax refund reduction in 2004 and comprehensive firm‐level environmental survey data. The results show that exporting releases Chinese firms' financing constraints and enables them to upgrade production technologies quickly by applying advanced production technology (capital‐embodied technological upgrading) rather than by upgrading abatement technologies, to drive down sulfur dioxide (SO2) intensity and energy intensity. Exporting also reduces a firm's average energy intensity and SO2 intensity by reallocating resources from energy‐intensive and polluting production and firms to cleaner ones, that is, the resource reallocation effect. However, Chinese firms cannot expand their production much when trade costs decrease, which makes it difficult for the scale effect to work well. [ABSTRACT FROM AUTHOR]

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper explores the concept of cash refund capital reductions (CRCR) in the context of firms listed on the Taiwan Stock Exchange Corporation (TSEC) and GreTai Securities Market (GTSM). CRCR is a distinct and increasingly vital financial tool used by these firms. Taiwan stands alone in adopting CRCR, making it a challenge to establish both a theoretical framework and gather empirical evidence on this subject. In this study, we examined 205 CRCR announcements made between 2002 and 2022, delving into their impact on both bull and bear markets. Our investigation reveals that the market responses to CRCR announcements were more significant during bull markets compared to bear markets. Additionally, we delve into the crucial factors influencing market responses in these varying market conditions. The findings underscore the importance for firms announcing CRCR to carefully consider the prevailing market conditions. [ABSTRACT FROM AUTHOR]

This paper applies KMV modified model to construct a local governments' debt risk index by using the local governments' financial revenue and expenditure data and the data of Chinese A-share listed companies, and studies the relationship between local government debt risk and enterprise innovation. The results show that the increased risk of local government debt can encourage enterprises to increase R&D investment, which is more significant when the enterprises are politically connected, the provincial officers have a longer tenure, the provinces are more market-oriented, and the enterprises get more refunds of taxes. This paper provides empirical evidence for the state theory, which suggests that competition for political promotion among local officials can make the goal of personal political promotion of officials agree to intend to maximize social welfare. [ABSTRACT FROM AUTHOR]

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to explore the impact of China's value-added tax (VAT) credit refunds policy on the enterprises' labor demand through a paradigm combining ex-ante analysis and ex-post test. By introducing the VAT credit refunds into the production-decision model of the enterprise, calibrating the parameters and conducting the dynamic effects tests using the data of Chinese A-share listed enterprises, this paper finds that the labor employment of the pilot enterprises exhibits a V-shaped fluctuation trend. In the initial implementation of the policy, due to the existence of layoff costs, iso-cost line of the enterprise bends, which results in that the enterprise with a capital-labor substitution elasticity greater than 1 will not reduce labor hiring, as it has already deployed labor force before the implementation of the policy. When the enterprise enter the next production cycle where the labor force can be freely allocated, the labor employment of the enterprise with a capital-labor elasticity of substitution greater than 1 will decline compared to that without the policy. In the long run, as output increases, the labor demand will recover. The results of ex-post test are consistent with that of the ex-ante analysis. Additionally, heterogeneity test reveals that the greater the elasticity of capital-labor substitution of the sub-industry is, the more severe the degree of the V-shaped fluctuation is. Following the implementation of the policy, the continuous increase in enterprise output and capital stock verifies the relevant transmission mechanism. This study provides a more detailed perspective for comprehensively understanding the impact of VAT credit refunds policy on employment. [ABSTRACT FROM AUTHOR]

Two pending U.S. Supreme Court cases, Loper Bright Enterprises v. Raimondo and Relentless, Inc. v. U.S. Dept. of Commerce, are challenging the level of deference given to agency rulemaking. The cases involve the National Marine Fisheries Service (NMFS) interpreting a federal law to require fishing companies to pay the salaries of federal monitors on fishing vessels. The fishing companies argue that the law does not specifically authorize this fee and that Chevron deference, which grants deference to agency interpretations of ambiguous statutes, is an unconstitutional limit on judicial oversight. The Court heard oral arguments in January 2024 and a decision is expected in June 2024. The outcome could have implications for the IRS and its reliance on Chevron deference in defending Treasury regulations. [Extracted from the article]

Few social policies provide financial support to parents whose children are transitioning to adulthood. The earned income tax credit (EITC) is one exception. Parents with children between 18 and 24 years old who are enrolled in school full-time can claim their children for the EITC on their tax returns. Yet, scholars have largely overlooked how families access and use the EITC when they have adult children. Drawing on 30 interviews with low-to-moderate-income single mothers, primarily women of color, I illustrate how neoliberal socio-cultural values of independence, self-sufficiency, and responsibility dominate the mothers' decisions regarding tax filing and tax refund allocations. Some mothers forego claiming their adult child for EITC and encourage their child to "claim themselves" to foster independence and responsibility. Their child receiving a tax refund also gave mothers an opportunity to observe their child's financial responsibility. Other mothers balanced fostering independence with the family's financial needs by explaining to their child that as a parent they would receive a larger tax refund if they claimed them but wanted their child to decide how to file their tax returns. Still, some mothers who could not claim their adult child for the EITC due to the school attendance requirements felt the policy did not respond to the financial responsibilities they had to their children, who navigated harsh economic circumstances produced under neoliberalism. Given neoliberalism's influence on socio-cultural values and public policy, reforms that center the socialization goals and financial needs of economic and racially marginalized families are discussed. [ABSTRACT FROM AUTHOR]

Motivation: To enhance tax education and increase citizen participation in combatting tax evasion, monetary incentives may be used. In December (2021), the state government of Rio Grande do Sul in Brazil launched the Receita Certa project. It aims to encourage new taxpayer habits, by refunding part of the tax collected by retailers on consumption back to citizens, contingent on its performance exceeding inflation rates. Taxpayers add their tax identification to receipts and request redemption every three months. Purpose: We analyse the impact of the Receita Certa project on the behaviour of consumers as taxpayers. Methods: We evaluate the impacts of Receita Certa using differencein-differences. The response variables are the monthly number and value of electronic receipts issued to beneficiaries. The treatment group consists of citizens eligible for the refund in its introduction month, while the remainder constitute the control group. The database includes receipts issued to 3.4 million taxpayers who added their tax identification to the receipt — spanning 11 months before and 18 months after the initiative, began resulting in 46.7 million records. Findings: The Receita Certa proved ineffective, as it led to fewer tax documents issued. Distributing resources widely to many users does not seem the best solution, both in cost and results. Distribution goes first and foremost to people on higher incomes since they got larger prizes: the smaller prizes of people on lower incomes were often not claimed. The programme made tax more regressive. The programme was also costly. Policy implications: States that have a large tax gap need to improve their control systems. Initiatives like the Receita Certa that return resources widely to taxpayers to reduce tax evasion are widespread. Given the results shown, Receita Certa needs rethinking. [ABSTRACT FROM AUTHOR]

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Infl ation Reduction Act enacted new ways for eligible taxpayers to monetize credits. One such option is for eligible taxpayers to elect to directly receive a credit via a tax refund from the IRS. This article discusses the fi nal regulations related to this election. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Abstract: We examined grit in the context of a wealth-building situation: tax refund savings. Specifically, we leveraged a novel dataset combining longitudinal survey data with administrative tax data for a sample of 6,904 low- and moderate-income (LMI) tax filers in the United States. After statistically balancing individuals on grit across a range of important characteristics with propensity score weighting, we found that grit was associated with better financial behaviors. Additionally, the influence of grit on savings-related behaviors did not vary across the experience of financial stressors. Lastly, we found that individuals exhibiting higher levels of grit prioritized education spending over gifts, confirming the notion that people exhibiting higher levels of grit are determined and passionate as they pursue their long-term goals. [ABSTRACT FROM AUTHOR]

Copyright of Zeitschrift für Stiftungswesen is the property of Verlag Oesterreich GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Zeitschrift für Stiftungswesen is the property of Verlag Oesterreich GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Motivated by the trend that a gray market such as overseas shopping is thriving on E-commerce platforms, this paper investigates the impacts of the gray market on global supply chain management. We consider a multinational firm (MNF) that outsources product manufacturing to a contract manufacturer (CM) in China and sells products in both the China market and overseas market. Owing to the price gap between the two markets, gray firms may purchase products in the low-price market and compete with the MNF in the high-price market. We build MNF-led Stackelberg game models under the two cases where the wholesale price between the CM and MNF is exogenously given or endogenously set by the CM. We also consider the impacts of China's partial value-added tax (VAT) refund policy and consumers' valuation discount for gray products. Our analysis shows that the gray market emerges if the two markets are highly asymmetric in size. Moreover, the gray market is more likely to emerge with lower values of valuation discount, substitutability, and VAT loss. We find that both the MNF and CM may be better off with the emergence of the gray market. When the gray market does not emerge but poses a threat, the MNF strategically adjusts her global pricing strategy to prevent the gray market. In this case, the threat of the gray market always hurts the MNF and CM under exogenous wholesale price, but may improve the MNF's profit under endogenous wholesale price, since the CM is motivated to lower wholesale price to restore demand. [ABSTRACT FROM AUTHOR]

Government incentives play an important role in the development of the remanufacturing industry. It remains a challenge to determine an optimal policy (subsidy and/or tax refund) and how firms (manufacturers and retailers) can integrate it into their pricing decisions. We analyze the impacts of government financial incentives on manufacturers' and retailers' pricing decisions in terms of corporate profits and social welfare under different scenarios. We find that government incentives increase the recycling price and availability of used products, while the wholesale and retail prices of new products remain unchanged. Government incentives also significantly increase the manufacturer's profits and enhance social welfare. [ABSTRACT FROM AUTHOR]

The article focuses on the interpretation of Art. 30, Art. 60, and Art. 71 Abs. 1 Subpara. 2 of the VAT Directive in a case involving the illegal import of cigarettes into the EU. Topics include the conflict between national regulations referring to the Union Customs Code and the VAT Directive, the application of Art. 215 Abs. 4 of the Customs Code to determine the place of origin of import VAT, and the relevance of the territorial principle in allocating revenues from import VAT.