Taxes and the Choice of Organizational Form in Late Nineteenth Century Japan
Taxes and the Choice of Organizational Form in Late Nineteenth Century Japan
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十九世纪末日本的税收与组织形式的选择
DOI：
10.1017/s002205071700047x
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发表时间：
2017
期刊：
影响因子：
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通讯作者：
Tang John P.
中科院分区：
文献类型：
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作者：
Onji Kazuki;Tang John P.
税收政策的变化如何影响企业的组织选择？使用从日本公司谱系构建的历史公司数据，我们检验了1887年引入个人所得税(PIT)对以税收为动机的公司的短期影响。在1880年至1892年期间，我们发现个人所得税的引入使注册公司的份额增加了超过3个百分点，表明公司选择他们的组织结构是为了避免新的税收。此外，我们的结果表明，企业所得税可能起到了支撑作用，以维持通过个人所得税征收的收入。
How do changes to taxation policy affect the organizational choices of firms? Using historical firm data constructed from Japanese corporate genealogies, we examine the short-run impact of introducing a personal income tax (PIT) in 1887 on tax-motivated incorporation. Between 1880 and 1892, we find that the introduction of PIT increased the share of incorporated firms by more than 3 percentage points, indicating firms chose their organizational structure to avoid new taxation. Furthermore, our results suggest that a corporate income tax may have acted as a backstop to maintain revenue collected through PIT.