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The primary purpose of this article is to look at the manner in which the tax management aspects of a company's performance are presented in the financial statements.

Married couples receive tax benefits such as favorable tax rates, higher exclusions, higher phase-outs, and combined deductions. However, joint and several tax liability is a major issue facing these taxpayers. The term innocent spouse relief, within the Internal Revenue Code, is a direct result of one spouse failing to satisfy the joint liability for the married couple. Since both individuals are jointly and severally liable for the combined liability, the innocent spouse may be responsible for the liability in whole or in part. Our study examines this highly litigated arena of innocent spouse relief. To assist in this area of taxation, the Internal Revenue Service has provided taxpayers and tax practitioners with guidance. Revenue Procedure 2003-61 (2003-2 CB 296) outlines factors useful in determining whether innocent spouse relief should be granted. Additionally, this study creates a predictive model containing only three significant factors (economic hardship, knowledge/reason, significant benefit) capable of predicting with approximately 89% accuracy. These same three variables are significant after running multiple regression with p-values of 0.002 (economic hardship), 0.000 (knowledge/reason to know), and 0.001 (significant benefit). These factors provide valuable insight to practitioners when advising clients on challenging or accepting the Internal Revenue Service's decision. Additionally, abuse is marginally significant in the regression model. Also, judge gender and political affiliation are analyzed. However, the gender of the judge and political affiliation fail to be statistically significant using the chi-square test and regression model.

This study aims (i) to assess the quest for tax education among working adults that pursuing off‐campus non‐accounting program, (ii) to analyze the level of tax knowledge among the working adults, (iii) to elicit the relevant tax topics to be taught should tax education be integrated into non‐accounting curriculum in higher education. We surveyed 450 working adults pursuing off‐campus non‐accounting program in one Malaysian public university. 190 usable responses were received. The survey found 64 per cent of the respondents were keen to learn taxation, and only 23.7 per cent of the respondents possessed high level of tax knowledge. The topics that they desired to learn the most are basic tax principles, personal taxation, tax planning for individuals and taxation for small business and company. The findings suggest that as we moved into the era of self‐assessment tax system, it is imperative for the accounting academics and the education authorities to seriously consider introducing tax education in non‐accounting curriculum in higher education.

In his 2006 State of the Nation Address, President Thabo Mbeki indicated that the regulatory environment for small businesses would be improved, as this sector plays an important role in the national strategy for accelerated and shared growth. The aim of this study is to determine whether the size of an enterprise and the sector in which the enterprise operates has an impact on how the enterprise’s tax responsibilities are administered and managed. A survey was conducted amongst small and medium enterprises in the manufacturing, retail and business services sectors in Gauteng. The study focused on Gauteng because the majority of small, medium and microenterprises (SMMEs) are located in this province. The study found that most small and medium enterprises (SMEs) in the business services sector outsource their tax responsibilities because they lack the time needed to manage these functions. It was also found that the size and type of organisation affects the role taxation inputs play in business decisions. The SMEs included in the survey preferred a reduction in interest and penalties charged as a taxation relief measure.

In his 2006 State of the Nation Address, President Thabo Mbeki indicated that the regulatory environment for small businesses would be improved, as this sector plays an important role in the national strategy for accelerated and shared growth. The aim of this study is to determine whether the size of an enterprise and the sector in which the enterprise operates has an impact on how the enterprise’s tax responsibilities are administered and managed. A survey was conducted amongst small and medium enterprises in the manufacturing, retail and business services sectors in Gauteng. The study focused on Gauteng because the majority of small, medium and microenterprises (SMMEs) are located in this province. The study found that most small and medium enterprises (SMEs) in the business services sector outsource their tax responsibilities because they lack the time needed to manage these functions. It was also found that the size and type of organisation affects the role taxation inputs play in business decisions. The SMEs included in the survey preferred a reduction in interest and penalties charged as a taxation relief measure.

Examines the application of taxation breaks in stimulating investment into property development. Examples are drawn from Dublin and Berlin to highlight how accelerated depreciation allowances have been utilized in different market sectors. Emphasis is placed on similarities and differences in the regulations regarding use of taxation‐based incentives. Outcomes of the policy are evaluated including the risk of over‐supply of office floorspace in the medium term and the re‐targeting of incentives towards residential development. Argues that the experience drawn from each city provides interesting parallel and contrasting outcomes.

In recent decades a vast amount of academic ink has been spilled in theorising as to how companies should go about making capital investment decisions. Comparable effort has been expended in carrying out surveys to ascertain whether the academic prescriptions are being followed in practice. However, consideration of the theoretical and actual roles of taxation in the capital budgeting decision have formed a relatively small part of these deliberations. The purpose of this paper is to consider these roles.

Both, the UK and Japan abolished the tax credit system for foreign source dividends in 2009 in favour of the exemption system. With the move towards a dividend exemption system the governments intended to enhance the international tax competitiveness of their countries. The purpose of this paper is to evaluate the implications of substituting the credit system for the exemption system in the UK and Japan on cross-border transaction prices when competing for international acquisitions.

The paper uses an economic model under certainty to analyse the changes in cross-border marginal purchase and seller prices as a result of the introduction of the newly introduced dividend exemption system.

Shifting to an exemption system has ambiguous effects on the ability to compete for foreign acquisitions: investors from both countries are able to pay higher prices in the course of acquisitions, but while investors from the UK become more competitive, the relative competitive position for Japanese investors hardly changes and remains relatively constrained, independent of the form of double taxation relief. Thus the author verifies that the international tax regime is not the only determinant influencing the competitive position, ranking second to, e.g., the interaction with international tax rate differentials.

The international tax reforms in UK and Japan in 2009 offer a unique opportunity to study the impact of international tax policy on the international tax competitiveness of multinational firms in the course of foreign acquisitions. Evidence from this paper is not exclusively applicable to the UK and Japan setting. The observed effects shed new light on the intensified debate in the USA of changing the international tax system by analysing the impact on the bidding situation in international acquisitions in a real-world transition scenario.

The consequences of a theft or fraud perpetrated upon a business will invariably extend beyond any immediate pecuniary loss. The attentions of management, which would otherwise be engaged in the day‐to‐day supervision of the business, are instead diverted on to such matters as the investigation of the theft or fraud and the instigation of appropriate remedial action. Costs are magnified by the need to involve external professionals: legal costs arising from an attempt to recover assets from the wrongdoer, management consultants to advise on improvements in reporting systems and internal controls, and, where the theft or fraud has been concealed within falsified or incomplete accounting records, the engagement of forensic accountants to establish the true financial position of the business. The extent to which these, very substantial, costs together with any loss arising from the theft or fraud itself may be subsidised by the Exchequer in the form of relief for taxation purposes is, therefore, a topic of considerable practical relevance to the victims of theft or fraud.