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Title: The Effective Tax Burden of Listed Companies: The Case of the Athens Stock Exchange (ASE)
Authors: Evangelos Chytis 
John Filos 
Diakomihalis, Mihail N. 
Keywords: Φορολογία;Διεθνή Λογιστική
Issue Date: 2015
Publisher: Technological Educational Institute of Larissa Greece
Abstract: The annual tax-burden of a company, concerning – on the one hand - its obligation to the tax authorities is as calculated based on the taxable income and appears on the tax application form (Current Tax), while concerning – on the other hand – the information provided through the financial statements (under IAS/IFRS) is the one based on the accounting income and is recorded separately in the Income Statement. This paper examines the level and composition of the Effective tax burden on companies (Effective Tax) which is combining two different parts, the one being the Current Tax and the other being the Deferred Tax. The examination takes place in rates (percentages) ie Effective Tax Rate/ETR, Current Tax Rate/CTR and Deferred Tax Rate/DTR. The sample includes all listed companies in the Athens Stock Exchange (ASE) belonging to the indices FTSE / ASE -20, - Mid 40 & -80. In the period 2005-2012 the average tax burden based on accounting profits (ETR) stands at 26% and the rate of taxable profit (CTR) at 21.85%, while the average (statutory) tax rate is 25%. Deferred Taxes (DTR) participate in the formulation of the final cost of taxes by 3.76% as expense and 3.14% as income on average, while extraordinary taxes account for 3.76%. The companies of the FTSE / ASE Small Cap 80 show the highest ETR, CTR and DTR. The Technological Industry shows the highest ETR, while the lowest is recorded in the Real Estate industry. The highest CTR value is noted in Telecommunications and the lowest in the sector of SMEs, which shows the largest deferred tax expense, while the industry of Health shows the larg
ISSN: 2241-1534
Appears in Collections:Δημοσιεύσεις σε Περιοδικά

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