Assessment of Measures for Tax Regulation of Transfer Pricing from the Standpoint of National Welfare (Оценка мер по налоговому регулированию трансфертного ценообразования с точки зрения национального благосостояния)

L. Polezharova
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Abstract

This article is devoted to development of mathematical models for resolving an actual scientific challenge in the field of corporate finance. This involves substantiating taxation policies for the counter-acting tax planning of multinational companies (MNC), and then devising and articulating the appropriate international taxation scheme, as evaluated from the position of national welfare policy. Based on an analysis of existing models of international taxation, and on the peculiarities of the actual mechanism of capital movement tax regulation, new models with equilibrium postulated have been developed. The primary mechanisms of this research involve the following considerations: (1) examination of an approach targeted at the determination of the final outcomes of international taxation from the perspective of national economies; (2) measures of tax planning on the part of MNCs, and corresponding counter-acting measures to the tax planning applied by governments, are taken as a complex. Our results indicate that because a government uses rules of controlled transactions, in order to counter-act MNCs’ tax planning, for the government the final outcome from an application of these rules may be negative. This is due to a possibility of MNCs’ development in convenient and offshore jurisdictions. This finding is illustrated by means of an approbation of models with a case study involving a three-tier structure.Further to this point, instead of additional revenues, a government is at a risk of a shrinking tax base and a reduction in budget revenues; and moreover from the perspective of national welfare, the additional loss of revenues and capital of MNCs. Therefore there is a significant importance in forming rules for MNC taxation policies which would focus not on taxes as such, but would focus on trying to keep capital within the territory and/or would facilitate the return of earlier divested income. This could be attempted, for example, by using the secondary adjustment rule in conjunction with a minimum tax on return. The novelty of this research resides in the specificity of our investigation and the applicability of our conclusions to the practical challenges of international taxation and national revenue policies. The peculiarities of this economic moment and the crucial challenges for national governments in dealing with MNCs and the digital economy underline the significance of this study. Our results expand and develop the existing literature in this ever-crucial area be of immediate use to policymakers, academics and administrators involved in national and international taxation, finance, economics, and analysis.
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本文致力于发展数学模型,以解决公司财务领域的一个实际科学挑战。这包括为跨国公司的反税收规划制定税收政策,然后设计和阐明适当的国际税收计划,从国家福利政策的立场进行评价。在分析现有国际税收模型的基础上,根据资本流动税收调节实际机制的特点,提出了以均衡为前提的资本流动税收调节新模型。本研究的主要机制涉及以下考虑:(1)从国民经济的角度考察旨在确定国际税收最终结果的方法;(2)将跨国公司的税收筹划措施与政府对跨国公司税收筹划采取的相应应对措施作为一个综合体。我们的研究结果表明,由于政府使用控制交易规则来对抗跨国公司的税收筹划,对于政府来说,应用这些规则的最终结果可能是负面的。这是由于跨国公司有可能在便利的离岸司法管辖区发展。这一发现是通过对涉及三层结构的案例研究模型的认可来说明的。更进一步说,政府面临的不是额外收入,而是税基萎缩和预算收入减少的风险;此外,从国家福利的角度来看,跨国公司的收入和资本的额外损失。因此,制定跨国公司税收政策的规则具有重要意义,这些规则将不侧重于税收本身,而是侧重于试图将资本保留在领土内和/或促进早期剥离收入的回报。例如,可以尝试将二级调整规则与最低退税税结合使用。这项研究的新颖之处在于我们调查的特殊性和我们的结论对国际税收和国家税收政策的实际挑战的适用性。当前经济形势的特殊性,以及各国政府在应对跨国公司和数字经济方面面临的关键挑战,凸显了本研究的重要性。我们的研究结果扩展和发展了这一至关重要领域的现有文献,对参与国内和国际税收、金融、经济和分析的政策制定者、学者和管理人员有直接的帮助。
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