Codice Fiscale 3

Codice Fiscale 3

It should be noted that family shareholders are also dissuaded from resorting to tax planning, on the one hand, by the fact that they bear a substantial part of the penalties applied, if any, by the tax authorities when they hold larger holdings and, on the other hand, by the fact that they are more sensitive to the risk of damage to the reputation of the company which is inextricably linked to the reputation of the family. Casson (1999) insists on the idea that the heirs of a family business have a duty to ensure the continuity of the latter in order to ensure the transmission of what is perceived as the “accomplishment” of the founder.planification fiscale [4] As a preliminary point, it is interesting to note that a study conducted by Erickson et al . (2004) revealed that companies artificially increasing their accounting results tended to include overestimated profits in their taxable income, in order to limit the risk of detection of their fraudulent practices. Thus, by examining a sample of 27 firms accused by the American SEC of fraudulent overstatement of earnings, the authors showed that, on average, each dollar of overstated profit gave rise to the payment of 0.11 dollar of tax. [5] The average Tobin's q corresponds to the company's market value relative to the replacement cost of assets, defined as the book value of fixed assets; in short, it is the relationship between the market valuation of the company and its book value. [6] Article 104 of Law No. 2013-660 of July 22, 2013 relating to higher education and research opened up the possibility for researchers to access certain data collected by the tax administration, by decision of the minister responsible for of the budget after a favorable opinion from the Statistical Confidentiality Committee.