The association between related-party transactions and tax planning of listed companies on the Stock Exchange of Thailand
คำสำคัญ:
tax planning, related-party transaction, tax, transfer pricingบทคัดย่อ
This study aims to examine the association between related-party transactions and tax planning among listed companies on the Stock Exchange of Thailand, following the implementation of the Act Amendment Revenue Code (No. 47). The data are collected from companies listed on the Stock Exchange of Thailand (SET Index) from 2020 to 2023. The data were analyzed using both descriptive statistics and inferential statistics, including correlation and multiple regression analysis, to examine the relationships between dependent and independent variables. The findings indicate that related-party sales (RPS) are negatively associated with tax planning when measured by the Effective Tax Rate (ETR) and the ratio of corporate income tax expense to operating cash flows (TCFO). The result indicates that an increase in related-party sales corresponds with more aggressive tax planning behavior. Tax planning frequently involves shifting earnings across borders using related-party transactions to take advantage of tax rate differentials between countries. Additionally, the results reveal that firm size positively influences tax planning behavior, measured by ETR, indicating that larger firms tend to reduce their tax planning behavior. Profitability (measured by return on assets) shows a positive relationship with TCFO, implying that firms with higher profitability exhibit lower levels of tax planning behavior. Furthermore, firm growth also demonstrates a positive association with TCFO, which indicates that firms experiencing higher sales growth tend to engage less in tax planning activities. Corporate governance shows a positive relationship with ETR, indicating that firms with strong corporate governance tend to engage in less tax planning. The findings of this study are expected to be beneficial to relevant regulators, as the empirical evidence may inform improvements in tax policy-particularly regarding transactions among related parties-to enhance the effectiveness of future regulatory measures.
เอกสารอ้างอิง
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