경제상황이 세무위험에 미치는 영향

초록

[Purpose]This study empiracally investigates how firms’ tax risk appear depending on economic conditions. Specifically, this study analyzes whether the associations of tax risk with the firm characteristic variables are differentiated depending on economic conditions. [Methodology]We analyzed whether there were statistically significant differences in the tax risk of firms when the economic situation was booming or in recession. Further, this study analyzed whether there were significant differences in the associations of tax risk with the firm characteristic variables depending on economic conditions. Research period was 12 years from 2008 to 2019 and final samples consisted of 102 firms which listed in KOSPI & KOSDAQ markets. [Findings]First of all, when economic conditions were booming, tax risk measured by cash effective tax rate was significantly less than tax risk during recession. Therefore, tax risk in terms of cash effective tax rates decreases when the economic situation is more prosperous than when the economy is in recession. However, tax risk measured by effective tax rate was not statistically different as economic conditions. These results suggest that firms are interested in actual liquidity. Further, when the economic situation is booming, tax risk increased as pre－tax profits were increased or tendency on tax avoidance was stronger. [Implications]The results of this study suggest that it is necessary to consider economic conditions in future studies related to tax avoidance or tax risk. [Findings] First of all, when economic conditions were booming, tax risk measured by cash effective tax rate was significantly less than tax risk during recession. Therefore, tax risk in terms of cash effective tax rates decreases when the economic situation is more prosperous than when the economy is in recession. However, tax risk measured by effective tax rate was not statistically different as economic conditions. These results suggest that firms are interested in actual liquidity. Further, when the economic situation is booming, tax risk increased as pre－tax profits were increased or tendency on tax avoidance was stronger. [Implications] The results of this study suggest that it is necessary to consider economic conditions in future studies related to tax avoidance or tax risk.

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