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Three essays on the formation and finance of local governmentsBrien, Spencer T. 14 November 2011 (has links)
This dissertation follows a three-essay format. Each essay evaluates a different fiscal institution from a public administration perspective.
In the first essay I examine whether state-funded property tax exemptions are effective in reducing the property taxes. This class of exemption is characterized by a grant from state to local governments that is intended to replace property tax revenue and lower property tax payments. Two separate theories of local fiscal behavior predict that that price effects and fiscal illusion will reduce the effectiveness of this type of tax relief. I test these predictions using panel regression analysis on county-level data from Georgia. I find that only two thirds of the revenue allocated to this program is actually used for tax relief.
In the second essay I test a model of the property tax in which the levy is set to balance the difference between budgeted expenditures and expected receipts from all other revenue sources. This model demonstrates how the property tax can be used to offset unexpected changes to other revenues given a change in personal income. This model is contrasted with an alternative model in which expenditures are budgeted after expected total revenues have been determined. I will estimate both models for local governments in Georgia and test which more accurately describes local fiscal performance. I will also use both to predict changes to the property tax over a period of time and measure which model generated the more accurate forecast.
Unlike the first two papers, which are quantitative analyses of fiscal data, this chapter is a case study of the contract city model of governance as implemented in the newly incorporated city of Sandy Springs, Georgia. I investigate whether the scope of outsourcing in contract cities creates additional challenges for city officials that manage contractor performance. I evaluate the incentive structures in the contract agreements that influence the principal-agent relationship using a textual analysis research method. I find that certain combinations of municipal functions in a single public-private partnership creates the potential for negative synergies to arise which would increase the difficulty of monitoring and managing the private partner.
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Friskrivningsklausuler i kommersiella standardavtal : En detaljstudie angående harmoniseringen av avtalsrätten inom EUHansson, Tanja, Nilsson, Anna January 2006 (has links)
<p>During the later half of the 20th century standard form contracts began to be used more frequently in contract situations. This trend has been consistent and in today’s world numerous commercial parties employ such contracts in their business transactions. The reasons for the extended use of standard form contracts are the benefits that can be obtained for the parties such as time efficiency, effectiveness and price advantages. Standardised contracts often regulate certain issues of the contract for example the way of delivery, remedies and complaints. The definition of such contracts is corresponding in Sweden and England as contracts containing in advance standardised terms with an aim to be used similarly in contract situations with most clients or customers.</p><p>As the usage of standard form contracts increased, the number of unfair contract terms also enhanced. Therefore, the legislative powers in Sweden and England realised that the rules concerning the freedom of contract had to be restricted and governed. As a result, the legislative powers introduced an open control device through statutory control. This was done in Sweden in 1976 with the enforcement of Section 36 of the Contracts Act, and in England the year after when UCTA came into force. The statutory control in both Sweden and England makes it possible to appraise the fairness of exemption clauses. The statutory control is not identical in the two states. UCTA only concerns exclusion clauses and limitation clauses regarding contract terms and non-contractual notices. In Sweden, on the other hand, there is a general doctrine of unfairness and Section 36 of the Contracts Act can set aside all kinds of agreements.</p><p>The statutory control is complemented by indirect means of controlling the content of a contract through non statutory methods. The non statutory methods are concerned with the incorporation, interpretation and construction of clauses in a contract. To be valid and for a party to be able to rely on a term it must have been incorporated into the contract. The rules concerning the interpretation of standard form contracts and exclusion clauses are also of great importance. In both states the approach held is that the statutory control should be used preferably over the indirect control means, though the indirect means still has a prominent role in England through common law. Both England and Sweden agree on that the weaker party in a contract situation is in a greater need of protection by the rules of law in unfair contract situations. However unfairness can only arise if the superior party has wrongfully used the exclusion clause.</p><p>Our study shows the differences between Swedish and English contract law that can result in difficulties in the harmonisation process. These differences concern the test of reasonableness of exemption clauses, the doctrine of good faith, the legal effects and to what extent the indirect means of control should be applied. The Swedish test of reasonableness may include all relevant circumstances irrespective of the time of their occurrence, before or after the entry of the contract. The courts in England are limited to circumstances that have occurred before the closure of the contract. Section 36 of the Swedish Contracts Act includes a general rule of unfairness applicable to all kinds of contract terms. The rule of unfairness in the UCTA on the other hand, is only applicable to exemption clauses and indemnity clauses and there is no general rule of unfairness in English contract law. Instead the courts rely on indirect means of control, which therefore is of greater importance in English contract law. Finally, adjustments of unfair exemption clauses has a significant role in Swedish contract law, in contrast to English contract law where any adjustment is regarded as an intrusion of the freedom of contract.</p><p>To endorse one of the most important aims of the EU; a well working inner market, discussions commenced in 2001. The discussions concerned the harmonisation of the contract law within the union. The questions that arose were whether or not it was possible at all to form a European common contract law and if so, what the effects would be. An action plan was developed by the Commission and today both the EU Parliament and the Council are positive in regard to the continuing work with a reference frame. The Commission aims to pass the reference frame in 2009. Since the EU member states are diverse and have different legal systems a harmonisation of the contract law could cause difficulties. There are differences concerning legal traditions and legal values, hence the legal expertise in Europe is divided in the harmonisation question.</p><p>The following study aims to analyse the existing rules of law in Sweden and England representing two diverse legal systems existing in Europe; civil law and common law. The focus of this study regards the control of exclusion clauses in standard form contracts in both legal systems. The comparison will then be used to analyse the fundamental question if the harmonisation of contract law in the EU is feasible. Specific areas within the contract law have already been harmonised, which shows a possibility to coordinate common law and civil law. Directive 93/13/EEC on Unfair Terms in Consumer Contracts is one example of harmonised contract law in the EU and the principles in PECL is another example which shows that it is possible to coordinate common law and civil law. A harmonisation of the contract law will probably promote the commerce within the union and be the next step towards one of the most prominent goals of the EU, namely a well functioning common market. However, our study shows that the differences between national legislation and the differences between the legal traditions within the EU are not insignificant and a harmonisation will probably not be enforced without difficulties.</p>
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Tax incentives and investment in two Canadian manufacturing industriesForde, Penelope January 1981 (has links)
Canada has pursued during the postwar period a policy of accelerated capital cost allowances to stimulate private investment. Faster write offs increase a firm's cash flows and hence internal funds available for investment. These allowances reduce government revenues since taxes are deferred. These deferred taxes have grown rapidly and now more attention is being paid to the effects of tax incentive devices on investment and on government revenues. / In the thesis non-neoclassical models of investment are employed for an analysis of investment in two manufacturing industries. One model emphasizes the interdependence of the investment and financing decisions of firms. Both sales and external finance are significant determinants of investment expenditures. The main conclusion of the thesis is that accelerated write offs have played a limited role in financing investment. Instead, firms relied more on external borrowing and other financing methods which confer larger tax benefits than faster write offs.
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Nenugalima jėga (force majeure), kaip atleidimo nuo civilinės atsakomybės pagrindas / Force majeure as the ground of exemption from civil liabilityDrobitko, Oleg 26 June 2013 (has links)
Kaip vieną iš civilinės atsakomybės netaikymo ar atleidimo nuo civilinės atsakomybės pagrindų Lietuvos Respublikos Civilinis kodeksas nustato nenugalimą jėgą (force majeure). Siekiant nustatyti kokiais atvejais asmuo yra atleidžiamas nuo civilinės atsakomybės nenugalimos jėgos pagrindu, darbe buvo išsikeltas tikslas - atskleisti nenugalimos jėgos force majeure) aplinkybės sampratą bei taikymo ypatumus atleidžiant asmenį nuo civilinės atsakomybės taikymo. Siekiant užsibrėžto tikslo magistro baigiamajame darbe buvo analizuojama teisės doktrina bei Lietuvos Respublikos teismų praktika. Darbe buvo nagrinėjama nenugalimos jėgos aplinkybės sąvoka bei būtinieji kriterijai siekiant aplinkybę pripažinti nenugalimos jėgos aplinkybe. Buvo nagrinėjamas kaltės, kaip būtinosios civilinės atsakomybės sąlygos, aspektas, kas leido nustatyti, kuriais atvejais nenugalima jėga yra pagrindas asmenį nuo civilinės atsakomybės atleisti, o kuriais atvejais yra pagrindas civilinės atsakomybės netaikymui. / The Civil Code of the Republic of Lithuania defines force majeure (also known as “superior force”, “unavoidable accident”) as one of the bases of exclusion of civil liability and exemption from civil liability. In order to determine the situations, when the person may be exempted from civil liability because of force majeure, the author sets the target to reveal the possible circumstances of force majeure and its application, exempting the person from civil liability. In order to achieve the aim of Master’s Thesis there has been analyzed legal doctrine and Lithuanian judicial practice in this work. The author has overviewed the concept of circumstances of force majeure and mandatory criteria for it. Analyzing fault element as the necessary condition of civil liability helped to determine the cases, when force majeure is the basis to exempt the person from civil liability, and the cases, when it is the basis to exclude civil liability.
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Mervärdesskatt undantaget för förvaltning av investeringsfonder : Tillämpningssvårigheter avseende 3 kap. 9 § 3 st. 2 p. Mervärdesskattelagen medför rättsosäkerhetOlsson, Christoffer January 2013 (has links)
No description available.
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Entre performance de l’outil de production et pérennité de l’outil d’aménagement : le dilemme immobilier dans les stations nouvelles d’altitude / The dilemma of real estate development in new mountain resorts : economic efficiency versus sustainable managementFablet, Gabriel 07 July 2015 (has links)
La montée en puissance des problématiques liées au développement immobilier des stations occupe une place croissante dans les débats publics. D'un côté, face à l'incapacité d'identifier des leviers efficaces en matière de réhabilitation, les associations d'élus et d'opérateurs de domaines skiables ne cessent de souligner l'impérieuse nécessité de poursuivre le développement immobilier, clef de voûte du maintien d'une activité économique indispensable à la survie des territoires de montagne. De l'autre, des associations environnementalistes et d'usagers de la montagne militent contre le phénomène d'intensification de l'urbanisation des sites de montagne. Face à ce dilemme, et dans un contexte où le législateur s'efforce à occuper une position de plus en plus affirmée en tant que garant de la limitation de l'extension des surfaces urbanisées, la question immobilière dans les stations de montagne revêt donc un intérêt particulier que cette thèse de doctorat propose d'approfondir. En postulant que l'immobilier constitue un marqueur particulièrement adapté pour appréhender les trajectoires de développement des stations touristiques, notre recherche vise à répondre à un double objectif : qualifier les cycles et les formes de développement des stations d'une part, mieux comprendre les facteurs à l'origine de ces évolutions d'autre part. Dans le contexte très spécifique des stations françaises de sports d'hiver marquées à des degrés divers par le poids de l'intervention publique, la question de l'impact du modèle de développement initial sur la nature de leurs trajectoires constitue un enjeu essentiel de cette démarche. Du fait de la diversité et de l'étendue des facteurs en cause, aborder le champ de la production immobilière dans le contexte touristique implique une grande transversalité des approches – mêlant analyses économiques, urbaines et politiques – articulées à différentes échelles, entre logiques globales de marché et régulation locale de l'aménagement touristique. L'originalité de notre recherche tient dans le caractère transversal, pluridisciplinaire et focalisant de la démarche visant à déconstruire progressivement l'enjeu immobilier en stations. En adoptant une posture volontairement distanciée vis-à-vis du discours opérationnel tel qu'il est formalisé sur la scène politique et médiatique, ce travail s'efforce de s'affranchir de la traditionnelle opposition entre injonction du développement économique et préservation des milieux naturels pour se focaliser davantage sur les fondamentaux de la « décision de construire » souvent qualifiée de « boite noire » de l'aménagement urbain. Quels sont les principaux mécanismes à l'origine de la croissance immobilière des stations ? Comment ont-ils évolué depuis leur implantation ? Certaines stations sont-elles davantage prédisposées à la croissance ? Comment s'opèrent les mécanismes de régulation publique autour de l'urbanisation ? Autant de questionnements que ce travail de recherche tentera d'éclairer dans la perspective plus globale de nourrir la connaissance sur les ressorts de la production immobilière spécifiques au contexte touristique. / The growing concern with issues relating to real estate development in mountain resorts is reflected in their increasing importance in public debate. On the one hand, associations of elected representatives and ski area operators, unable to identify effective levers to ensure resort rehabilitation, have continued to stress the overriding need to pursue real estate development as a cornerstone for maintaining a level of economic activity indispensable to the survival of mountain areas. On the other hand, environmental groups and associations of mountain users have been ardent campaigners against the increasing urbanisation of mountain areas. Given this dilemma, and in a context where legislators wish to be seen to be increasingly assertive in limiting the spread of urbanisation, the question of real estate development in mountain resorts has taken on an increasingly important role, a role that this doctoral thesis seeks to examine in greater depth. Starting from the premise that real estate is a particularly suitable yardstick for understanding the development paths taken by tourist resorts, our research has a two-fold objective: first to identify and describe the different cycles and types of resort development, second to better understand the factors underlying the changes taking place. In the very specific context of French winter sports resorts, the development of which has been characterised by varying levels of public intervention, the question of the impact of the initial development model on the nature of resort development is a key consideration in our approach. Given the diversity and far-reaching effects of the factors in question, an investigation of real estate production in the context of tourism development calls for a cross-disciplinary approach – involving economic, urban and political analyses – conducted at different scales, reconciling global market principles and regulations governing tourism development at the local level. The originality of our research lies in its cross-cutting, multidisciplinary focus on progressively deconstructing the real estate issue in resorts. By adopting a stance that is deliberately distanced from the operational rhetoric so often used by politicians and the media, our study endeavours to break free from the traditional dichotomy that opposes the need for economic development and the preservation of the natural environment. Instead it focuses more on the fundamentals of the “decision to build”, often referred to as the “black box” of urban development. What are the main mechanisms underlying real estate growth in tourist resorts? How have they evolved since they were first introduced? Are some resorts more disposed to growth than others? How do public regulation mechanisms operate with respect to urbanisation? Our research will attempt to answer these questions from an overall perspective that focuses on gaining insights into the workings of real estate construction in the context of tourism.
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Aspectos tributários das doações a entidades do terceiro setor no contexto de grupos econômicosSilva, Diogo Afonso Rodrigues da 28 November 2017 (has links)
Submitted by Diogo Afonso Rodrigues da Silva (dars83@hotmail.com) on 2017-12-15T11:56:07Z
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Para que possamos aprovar seu trabalho, é necessário que faça as seguintes alterações:
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Att,
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Previous issue date: 2017-11-28 / No presente trabalho serão analisadas as características tributárias de doações realizadas por empresas a entidades do Terceiro Setor, ocorridas no âmbito de um mesmo grupo econômico. Serão avaliados os benefícios fiscais atinentes aos tributos incidentes e aplicáveis a tais movimentações, a forma como as autoridades fiscais tratam estas operações, bem como o posicionamento dos Tribunais administrativos e judiciais acerca deste tema. Do ponto de vista metodológico, trata-se de um trabalho exploratório de práticas jurídicas. Serão feitas análises conceituais das benesses tributárias e os requisitos previstos na legislação que devem ser cumpridos para sua fruição. Partindo do resultado deste estudo, serão propostas estruturas que propiciem a grupos econômicos com entidades do Terceiro Setor no Brasil, ainda que as fontes dos recursos advenham de empresas localizadas no exterior, eficiência tributária e mitigação de riscos. / In this study, it will be analyzed the tax features of the donations made by companies to Third Sector entities, in the context of the same economic group. It will be evaluated the tax benefits related to the taxes due on these financial transactions, the view of the tax authorities, as well the decisions issued by administrative and judicial courts regarding this matter. From the methodological standpoint, this is an exploratory study of the legal practice. The tax benefits and the legal requirements that must be fulfilled to its fruition will be conceptually analyzed. From the result of this study, it will be proposed structures that provide to economic groups with third sector entities in Brazil, even if the financial resources came from international companies, tax efficiency and risk mitigation.
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Criminal liability of legal persons: a comparative study between Spain and Peru / La responsabilidad penal de las personas jurídicas: un estudio comparado entre España y el PerúFernández Díaz, Carmen Rocío, Chanjan Documet, Rafael Hernando 10 April 2018 (has links)
This paper studies the criminal liability of legal persons, which has suffered a deep reform with the organic law 1/2015, after being introduced in Spain in 2010. This reform has brought important modifications and news, as the creation of an exemption of liability through the adoption of compliance programs, which supposes a change in the so called model of transfer of liability, that existed before. Parallel to this transformation in the Spanish criminal code, in Peru recently the law 30424 has come into forth, which contents a corporate liability model, very similar to the one foreseen in Spain. Both models of liability and the possibility of its exemption raise doubts about if they really tried to penalize legal persons or not. / El presente trabajo estudia la responsabilidad penal de las personas jurídicas en España, la cual, después de haberse introducido en el año 2010, ha sufrido una reforma de hondo calado con la ley orgánica 1/2015. Esta ha conllevado importantes modificaciones y novedades, como la creación de una eximente de responsabilidad mediante la adopción de programas de cumplimiento, que ha supuesto un cambio en el antes existente modelo de transferencia de responsabilidad. Paralelamente a esta transformación que ha tenido lugar en el Código Penal español, en el Perú recientemente se ha aprobado la ley 30424, que crea un modelo de responsabilidad para las personas jurídicas muy similar al previsto en España. Ambos modelos de responsabilidad y la posibilidad de su exención plantean la duda de si realmente se pretende responsabilizar penalmente a las personas jurídicas o no.
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Tributação implícita: redução da taxa de retorno pré-imposto em ativos favoravelmente tributados / Implict taxes: the reduction in pre-tax returns on tax-favored assetsClaudio Wasserman 30 April 2009 (has links)
Tributos implícitos refletem a extensão pela qual ativos favorecidos tributariamente têm seu retorno pré-imposto reduzido em comparação com o retorno pré-imposto de ativos sem benefício fiscal e de risco similar. Em condição de equilíbrio de mercado, se dois ativos de riscos semelhantes possuírem o mesmo fluxo de caixa pré-imposto, mas um deles for favoravelmente tributado em relação ao outro, haverá maior demanda pelo ativo menos tributado, que terá, portanto, seu preço relativo aumentado. Conseqüentemente, dado que o retorno pós-imposto é o mesmo para ambos, o retorno pré-imposto do ativo favorecido será menor que o retorno pré-imposto do ativo não-beneficiado. A perda de retorno pré-imposto sofrida pelo ativo beneficiado decorre da tributação implícita. O aumento de preço do ativo beneficiado pressupõe que haja um detentor disposto a vendê-lo um tipo de investidor para o qual a alteração nos preços relativos acontece sem que o seu retorno pós-imposto se altere: o investidor marginal. Investidores que possuam alíquota marginal de imposto explícita diferente da suportada pelo investidor marginal formam a denominada clientela tributária, que se constitui por um investidor para o qual a mudança nos preços relativos alteraria também o seu retorno pós-imposto. Os objetivos da tese são apresentar a teoria econômica e os conceitos subjacentes à tributação implícita, assim como comprová-la empiricamente. Trata-se de tema importante, pois traz à luz um tipo de tributação ainda pouco visível para a maioria dos indivíduos e das empresas, mas que é tão material quanto a explícita (descrita nos códigos e regulamentos tributários e provisionada nas demonstrações financeiras). A MP nº 281/2006, que introduziu a isenção de imposto de renda para os rendimentos produzidos por títulos públicos federais adquiridos por estrangeiros, foi o evento ao redor do qual se examinou o efeito causado pela isenção sobre os retornos da NTN-B, título escolhido pelos não-residentes à época do ato. A hipótese testada foi de que a entrada maciça do investidor estrangeiro reduziria significativamente o retorno pré-imposto do título. Para os testes, empregou-se a análise de séries temporais: o mesmo título foi utilizado antes (sem benefício fiscal) e depois (beneficiado quando adquirido por estrangeiros) da MP. Assim, a diferença de percepção de risco que investidores possuem ao carregar ativos diferentes ficou mitigada, o que permitiu que se isolasse o efeito do benefício tributário sobre os retornos. Os resultados confirmaram que o investidor estrangeiro sofreu uma significativa tributação implícita: a depender da série da NTN-B, o investidor estrangeiro foi tributado implicitamente de 11% a 13%. A pesquisa contém também uma outra situação relacionada à MP nº 281/2006, mas que decorreu de falta de liquidez da NTN-B, quando o estrangeiro quis sair do mercado em momento posterior à entrada em vigor da MP. Nesse segundo instante, comprovou-se que o investidor estrangeiro recebeu um tributo implícito pago pelo governo brasileiro. Procurou-se demonstrar que o tributo implícito não é tipicamente pago para as autoridades tributárias. Na entrada do estrangeiro, houve pagamento de tributo implícito do não-residente para o investidor nacional. No momento seguinte, quando o investidor estrangeiro desejou sair do papel, o governo pagou o imposto implícito recebido pelo não-residente. Esses resultados contribuem para a pesquisa tributária no Brasil ao trazer novos conceitos correlatos à tributação implícita e demonstrar empiricamente que alterações tributárias podem resultar em alteração no retorno pré-imposto de ativos. Por exemplo, decisões de investidores podem ser afetadas quando uma empresa que tradicionalmente pagava dividendos passa a distribuir o seu lucro na forma de juros sobre capital próprio, conforme prediz a teoria da clientela tributária. Os resultados e conceitos também podem auxiliar na análise das conseqüências, sobre a economia como um todo, da implantação de políticas tributárias, assim como na implementação específica de determinado incentivo tributário sobre o retorno pré-imposto dos mais variados tipos de ativo. / Implicit taxes reflect the extent to which tax-favored assets bear lower pre-tax returns than do tax-disfavored assets of similar risk. In equilibrium, when two assets give rise to identical pre-tax cash flows, but the cash flows from one asset are taxed more favorably than those from the other asset, the tax-favored asset will increase relative to the price of the taxdisfavored asset. Consequently, given that the after-tax returns are the same to both assets, the pre-tax rate of return to the tax-favored asset will fall below that for the tax-disfavored asset. The loss of pre-tax return bore by the tax-favored asset is due to the implicit tax. The price rise of the tax-favored asset indicates that there is an investor willing to sell it a kind of investor to whom the prices of the assets change, with the result that the after-tax rates of return will remain the same to them (the marginal investor). Investors with explicit tax rates different from the explicit tax rate faced by marginal investors form a group of investors known as tax clientele. Those investors (clientele) are not indifferent to assets differently taxed. This research aims to present the economic theory and the main concepts related to implicit taxes, and still to test empirically its existence. Implicit taxes are an important issue because it sheds light upon a kind of taxation practically invisible to most people and businesses, but yet as real as the explicit taxes. The Provisional Measure n. 281/2006, which provided income tax exemption to non-resident investors who acquired federal government bonds, was the event chosen to empirically test for implicit tax effects, by examining NTN-B return changes surrounding the act. Indications suggested that foreign investors focused on a long-term Brazilian bond called NTN-B. The hypothesis to be tested was that the massive entrance of foreign investors would significantly reduce the NTN-B pre-tax return. Time series analysis was employed: the same bond was used before (without the tax exemption) and after (with the tax exemption) the act. Therefore, this study is less subject to confounding cross-sectional risk differences, helping to distinguish between the effects of taxes and risk. Results of empirical tests report a significant decrease of return suffered by the foreign investor, from 11% to 13%, depending on the bond invested. The study also investigates another event related to the tax exemption, but actually connected to the small liquidity of the NTN-B. Few months later, the same foreign investor who massively bought the NTN-B in response to the tax exemption decided to leave the Brazilian market. At this time, the Brazilian government paid him a significant implicit tax. The comparison between the first event (tax exemption) and the second one (liquidity) shows that implicit taxes are typically not paid directly to the taxing authority. When the foreign investor first entered the market, he paid implicit taxes to the Brazilian investor. Later on, when the foreign investor decided to sell the bond recently bought, the Brazilian government then paid him implicit taxes. These results contribute to tax research by demonstrating that changes in tax rates may result in changes in pre-tax returns. For instance, according to the theory of tax clienteles, the decisions of investors might be affected when a Brazilian company decides to change its dividend policy, by paying interest on own equity instead of dividends. The results and concepts also provide information to tax policy makers on the economy-wide effects of tax rate changes, as well as the effects of specific tax incentives on pre-tax returns.
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Contribuição Previdenciária Patronal: tratamento desfavorável das pequenas empresas exportadoras / Employer Social Security Contribution: unfavorable treatment of small exportersRafael Ragazzo Pacheco Silva 25 November 2016 (has links)
A Constituição Federal determina a imunidade de receitas decorrentes de exportação em relação às Contribuições Sociais. Entretanto, a Receita Federal do Brasil defende o entendimento de que essa imunidade, para fins da Contribuição Previdenciária Patronal, somente se aplica às exportações realizadas de forma direta, sem quaisquer intermediários, conforme a Instrução Normativa nº 971/09. Essa interpretação prejudica mais sensivelmente as pequenas empresas, que, por questões fáticas, são mais dependentes das trading companies para comercializarem os seus produtos no mercado externo. Analisando as prescrições constitucionais relativas à questão, bem como os fundamentos desses benefícios fiscais, conclui-se que as restrições ao aproveitamento da imunidade ofendem tanto as prescrições constitucionais relativas à imunidade tributária, que jamais diferenciam as modalidades de exportação, quanto a exigência também constitucional de tratamento jurídico favorecido aos pequenos empreendimentos. Analisando-se outros tributos, constata-se a tendência uniforme em se conferir o mesmo tratamento tanto para a exportação direta quanto para a indireta, de forma que o atual tratamento em relação à Contribuição Previdenciária Patronal se mostra equivocado. / The Federal Constitution determines the exemption of export revenues regarding the Social Security Contributions. However, Brazilian Federal Tax Administration advocates that this exemption in what concerns the Employer Social Security Contribution is only applicable to direct exports, without any intermediaries, in accordance to Regulation nº 971/09. This point of view onerates small business more significantly, which, by factual reasons, are the most dependant of trading companies to sell their goods in the international market. Analyzing the constitutional prescriptions concerning this matters, as well as the basis of these tax favors, it is concluded that the restrictions on the use of the exemption offends not only the constitutional prescriptions regarding the tax exemption, which never differentiate direct export from indirect export, but also the constitutional demand of the favored legal treatmant of small firms. By analyzing other taxes it is possible to note an uniform tendency of treating both direct and indirect exports equally, so that the present treatment regarding the Employer Social Security Contribution is inadequate.
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