Firm specific determinants of corporate effective tax rate of listed firms in Nigeria

Yinka Mashood Salaudeen · Celestine Eze Uchenna

40 citations0/0 files storedJournal of Accounting and Taxation

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Corporate Taxation and Avoidance Corporate Finance and Governance Economic and Fiscal Studies

Abstract

This study examines the Corporate Effective Tax Rates (ETRs) of non-financial firms listed in Nigerian Stock Exchange. The study also measures the neutrality of taxation within the Nigerian economic sectors and establishes the relationships between ETRs and firm specific characteristics of size, leverage, profitability, capital intensity, inventory intensity, labour intensity and auditor type. Data were extracted from the financial statements of sampled firms in respect of the variables and subjected to analyses in ordinary least square (OLS), random effect and fixed effect models. The results show that ETRs were lower than the Statutory Tax Rate during the period of the study and that there are differences in ETR from one sector of the economy to the other. The study further reveals that larger and more profitable firms are faced with high tax burden while firms with high leverage, capital intensity, and tax expert (auditor type) are faced with lower ETR. There is no significant relationship between ETR and labour intensity. Key words: Effective tax rates, statutory tax rates, non-financial companies, tax incentive, tax expert.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1997Determinants of the variability in corporate effective tax rates: Evidence from longitudinal data 1983Taxes and firm size 1998Taxes and the location of production: evidence from a panel of US multinationals 2007Determinants of the variability in corporate effective tax rates and tax reform: Evidence from Australia 1982Effective corporate tax rates the effect of size, capital intensity, leverage, and other factors 2003Effective tax rates and the “industrial policy” hypothesis: evidence from Malaysia 2010Corporate Tax Planning: A Study On Corporate Effective Tax Rates of Malaysian Listed Companies

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