유효법인세율과 순확정급여부채

초록

The purpose of this study is to analyze whether the net corporate benefit liability decreases as the effective corporate tax rate in the previous period increases. To this end, this study analyzes companies that have announced net defined benefit liabilities by adopting a defined benefit plan since 2012. manager has the incentive to increase the book income to maximize compensations. In addition, the manager also has the incentive to reduce tax expenses when the corporate tax burden is large. However, both the increment of the book income and the reduction of tax expenses are difficult to achieve due to the conformity between the book income and the taxable income. There are systems that would enable reducing tax expenses without affecting the book income such as reserves and allowances. Therefore, managers can use such systems to reduce tax expenses without reducing the book income. The reserves paid for post-employment benefits according to defined benefit plans correspond to the foregoing. That is, the reserves for post-employment benefits are not treated as costs, but can be included in deductible expenses. This study is intended to examine whether managers use the reserves for post-employment benefits as a means to reduce tax expenses. According to the defined benefit retirement plan, the manager should estimates the liabilities incurred by the provision of service by employees at the end of each year, and pay the reserves to the pension fund to cover the liabilities. In addition, the manager should recognize the plan assets, which are the assets reserved for defined benefit obligations and post-employment benefits that are liabilities to employees and disclose the net defined benefit liabilities (defined benefit obligations less plan assets). Therefore, if the manager increases the reserve for post-employment benefits to reduce tax expense, the plan assets will increase so that the net defined benefit liabilities will decrease. The results of analysis indicated that the higher the effective corporate tax rate in the previous period, the smaller the net defined benefit liability. In addition, the analysis using the increase amount compared to the previous period shows the same result as this analysis. The results of this study mean that in cases where the effective corporate tax rate in the previous period is high, the manager uses reserves for payment of post-employment benefits as a means to reduce tax expense. This study is differentiated from previous studies in that it analyzes whether the reserves for payment of post-employment benefits are utilized as a means to reduce corporate tax burdens. In addition, this study is meaningful in that it empirically presents the tax strategies utilized by enterprises that adopted the defined benefit system.

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