Corporate Tax Avaoidance Accounting, Finance, SPSS Essay (Essay Sample)
I was required to explain how big corporation can legally reduce their tax obligations.
source..Corporate Income Tax Avoidance by Big Corporations
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Corporate Income Tax Avoidance by Big Corporations
In most countries, all corporate organizations are required by law to remit corporate income tax as a percentage of net income set by their respective governments. In the United States, federal income tax is set at 21 percent after it was reduced from 35 percent by the Tax Cuts and Jobs Act (TCJA). However, despite the tax cuts and additional waiver options, many companies have found a way to avoid paying tax using legal strategies. According to Dyreng, Hanlon & Maydew, (2008), 18 percent of corporate organizations in the country avoid paying corporate income tax, either partly or wholesomely through legal strategies. This paper discusses some of the legal strategies that corporate organizations use to evade corporate income tax.
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