Short sales allow tax deferral by offsetting gains from ordinary sales.
problem Tax deferral opportunity in short sales not regulated in the Philippine tax system.
method Short selling to offset gains from ordinary sales of identical stocks.
result Tax deferral opportunity exists but is unregulated in the Philippine tax system.
Research analyzes Georgia's tax system and suggests improvements.
problem Improving tax revenues in Georgia's state budget.
method Analysis of past and present tax systems, review of influencing factors, comparison of foreign models.
result Stimulating measures can increase tax revenues for Georgia's state budget.
Germany's tax admin costs likely exceed 20% of total revenue, requiring system improvement.
problem High tax administrative costs in Germany and other jurisdictions.
method Statistical data, surveys, and a novel approach to measure total administrative cost as a percentage of total tax revenue.
result Germany's 2021 tax administrative costs likely exceeded 20% of total tax revenue.
Flow taxes and stock taxes preserve portfolio neutrality under specific conditions.
problem Analyzing the impact of different types of taxes on portfolio choice.
method Extending the neutrality result to a full system of ownership taxes, showing how each tax modifies the drift of the wealth process.
result The combined system of taxes preserves portfolio neutrality under three conditions, and the drift-shift symmetry generalizes to a drift-shift-and-rescale symmetry.
Dynamic factor analysis reveals insights into Philippine stock market dynamics.
problem Understanding complex stock market dynamics.
method Dynamic factor model using Kalman method and maximum likelihood estimation.
result Common factors extracted from the model represent market trends and volatility.
Tax systems ensure sustainable economic development by adjusting production technologies and gross output volumes.
problem Ensuring sustainable economic development through optimal tax systems.
method Explicit formulas and mathematical proofs for tax systems based on production technologies and gross output volumes.
result The vector of gross output must belong to the interior of the cone formed by the columns of the total cost matrix under perfect taxation systems.
Long-term debt instruments can't be deposit substitutes due to mismatched features.
problem Long-term debt instruments cannot function as deposit substitutes due to their maturity and capital preservation.
method Applied fundamental theory of bond values to 'PEACe Bonds' to show incompatibility.
result Long-term debt instruments cannot be deposit substitutes due to their mismatched features.
Develops a method to optimize tax codes with practical constraints.
problem Translating optimal taxation theory into practical tax codes.
method Constrained optimization framework for piecewise linear tax functions.
result Generates reforms that meet theoretical and practical constraints.
Study on tax administration issues and their impact on Georgia's budget revenues.
problem Problems in revenue administration and tax rates in Georgia.
method Analyzed foreign experience and proposed a progressive tax system.
result A progressive tax system would benefit Georgia's business and economy.
Model shows how social norms and individual ethics affect tax evasion.
problem Effects of social norms and individual ethics on tax evasion.
method Agent-based model with simulations of different tax compliance behaviors.
result Threshold levels in society composition explain tax evasion extent.
Tax dynamics affects wealth distribution in a linearly growing socio-economic model.
problem Analyzing how tax policies impact wealth distribution in a stochastic resetting system.
method Analytical and numerical study of a system of agents with linear wealth growth, stochastic resetting, and tax redistribution.
result Optimal taxation leads to economic equality, while excessive taxation results in reverse disparity.
Optimizes tax payments for insurance companies using Lévy risk processes.
problem Maximizing expected accumulated discounted tax payments with a modified objective function.
method Loss-carry-forward tax system applied to spectrally negative Lévy processes until general draw-down time.
result Optimal tax return function and strategy derived.
We present a broad agenda for meaningful banking regulation reform aiming the creation of evolutive competitive environment to maximize the effectiveness of international financial system through the introduction of fair competition process among the banks in free market capitalism. We assume that the international fin…
I explain the root of persistent failure of efforts to remove tax-induced distortions of economic incentives. It lies in FUNDAMENTAL IMPOSSIBILITY of objectively evaluating tax base. Distortions can be entirely avoided in the sector of publicly traded corporations. Evaluation can be bypassed by taxing it in shares (to …
Extends wealth tax neutrality framework to stochastic volatility and non-homothetic preferences.
problem Ensuring wealth taxes are neutral under various economic conditions.
method Extended Frøseth's neutrality framework to stochastic volatility and non-homothetic preferences, identified four channels of non-neutrality, and applied the framework to global minimum wealth taxes.
result Non-uniform assessment, general equilibrium effects, progressive thresholds, and endogenous labour supply can cause non-neutrality under CRRA preferences.
AI-driven tax policies improve economic equality and productivity.
problem Lack of appropriate economic data and limited opportunity to experiment.
method Two-level deep reinforcement learning approach to learn dynamic tax policies from observational data.
result AI-driven tax policies improve the trade-off between equality and productivity by 16%.
Georgia needs a new budget code to manage fiscal policies effectively.
problem Weak and incomplete law on Budget System hinders fiscal policy implementation.
method Develop and adopt a new Budget Code with equal force as the Tax Code.
result Effective correlation between state, regional, and local budgets is crucial for social-economic development.
We show that the introduction of Tobin taxes in agent-based models of currency markets can lead to a reduction of speculative trading and reduce the magnitude of exchange rate fluctuations at intermediate tax rates. In this regime revenues for the market maker obtained from speculators are maximal. We here focus on Min…
Financial markets are exposed to systemic risk (SR), the risk that a major fraction of the system ceases to function, and collapses. It has recently become possible to quantify SR in terms of underlying financial networks where nodes represent financial institutions, and links capture the size and maturity of assets (l…
This paper explains tax policy for crypto assets in a rapidly evolving tech landscape.
problem Rapid technological changes in crypto assets create regulatory and tax policy blind spots.
method Explains principles of crypto assets, their technology, and tax issues.
result Tax policies are lagging behind innovation in blockchain and crypto.
LLMs can identify tax strategies, potentially revolutionizing tax enforcement.
problem Detecting and analyzing U.S. tax-minimization strategies.
method Evaluated advanced LLMs on interpreting, verifying, and generating tax strategies.
result Identified a novel tax strategy, showing LLMs' potential in tax enforcement.
Foundation models fail to preserve continuous geometry, identified as the Geometric Alignment Tax.
problem Continuous geometry is lost in foundation models due to discrete categorical bottlenecks.
method Controlled ablations on synthetic systems and evaluation of 14 biological models using rate-distortion theory and MINE.
result Replacing cross-entropy with a continuous head reduces geometric distortion by up to 8.5x.
GenAI adoption paradoxically lowers ROE for U.S. banks, with spillovers but systemic risk concerns.
problem Productivity paradox and implementation costs in U.S. banking sector with AI adoption.
method Dynamic Spatial Durbin Models (DSDM) and Synthetic Difference-in-Differences (SDID) for causal inference.
result AI adoption leads to a 428-basis-point decline in ROE for banks, with spillovers but systemic risk implications.
Study examines how institutional differences and crises affect volatility in ASEAN stock markets.
problem Understanding how institutional differences and crises impact volatility in emerging Asian stock markets.
method By-window EGARCH/TGARCH analysis of daily stock index returns for Indonesia, Malaysia, and the Philippines from 2010 to 2024.
result All three markets show strong volatility persistence and fat-tailed returns; crises increase persistence and asymmetry, while tail thickness rises.
Unified treatment of two tax models showing their equivalence.
problem Representing loss-carry-forward taxation on insurance company capital.
method Introduced latent and natural tax processes, showing their equivalence and solving the natural tax process's existence and uniqueness.
result Unified treatment of tax processes, translating results from one model to the other.
Proposes a fix for IRS calculation of Obamacare tax credits.
problem IRS iteration leads to divergent sequences for some self-employed taxpayers.
method Introduces a bisection procedure to calculate premium tax credits.
result Bisection procedure works for simple tax returns and those receiving credits in advance.
Model shows IRS procedure for health insurance tax credits can diverge, proposing a new bisection method.
problem IRS procedure for calculating health insurance tax credits diverges for some self-employed taxpayers.
method Proposed a bisection procedure to calculate appropriate premium tax credits for tax returns.
result The bisection procedure can calculate appropriate premium tax credits for a model of simple tax returns.
Paper uses 2-step Gradient Boosting to predict VAT tax gap.
problem Estimating tax evasion and revenue loss from tax avoidance.
method 2-steps Gradient Boosting model to correct selection bias.
result Significantly improved prediction of VAT tax gap.
Paper proposes trading strategies considering stock taxes for better returns.
problem Trading strategies without tax consideration can lead to significant loss.
method Used deep reinforcement learning to learn optimal trading strategies with and without taxes.
result Tax ignorance can cause more than 62% loss in average portfolio returns.
Model shows who pays higher taxes affects wealth distribution.
problem Determining who should pay higher taxes to prevent wealth concentration.
method Dynamic agent model with random wealth multiplicative process and linear tax rate.
result Tax rate structure affects long-term wealth distribution.
Income tax systems with pass-through entities transfer a firm's incomes to the shareholders, which are taxed individually. In 2014, a Chilean tax reform introduced this type of entity and changed to an accrual basis that distributes incomes (but not losses) to shareholders. A crucial step for the Chilean taxation autho…
A microscopic dynamic model is here constructed and analyzed, describing the evolution of the income distribution in the presence of taxation and redistribution in a society in which also tax evasion and auditing processes occur. The focus is on effects of enforcement regimes, characterized by different choices of the …
Study finds tax avoidance and IT issues hinder revenue in Gombe state.
problem Problems of personal income tax on revenue generation in Gombe state.
method Survey with primary and secondary data, chi square test.
result Tax avoidance and IT issues are major problems.
The Tobin tax is an often discussed method to tame speculation and get a source of income. The discussion is especially heated when the financial markets are in crisis. In this article we refer to foreign exchange markets. The Tobin tax should be a small international tax affecting all currency transactions and thus co…
Microscopic models describing a whole of economic interactions in a closed society are considered. The presence of a tax system combined with a redistribution process is taken into account, as well as the occurrence of tax evasion. In particular, the existence is postulated, in relation to the level of evasion, of diff…
Study solves overdetermined problem on compact surfaces.
problem Overdetermined problem on compact Riemannian surfaces.
method Analyzes Steklov eigenvalues and geometric properties.
result Characterizes domains for which the problem is solvable.
Study identifies vulnerable jurisdictions in tax networks to prevent treaty abuse.
problem Unexpected tax results due to global economic integration.
method Produced weighted graphs, computed centralities, and detected communities based on withholding tax rates.
result Identified jurisdictions likely to be used for treaty shopping and detected community structures.
Study risk-minimizing insurance investments with taxes and expenses.
problem Determining optimal insurance investments in the presence of taxes and expenses.
method Introduced tax- and expense-modified risk-minimization, derived strategies, linked to decompositions, and established equivalence to artificial market approach.
result Equivalence to artificial market approach and consistency with classic risk-minimization.
Study proposes a tax-based system to share disaster risk among regions.
problem Systemic risk in catastrophic events and insurer insolvency.
method Public-private partnership with government intervention through taxation.
result Taxation system effectively shares residual claims in case of insurer insolvency.
We develop a model of tax evasion based on the Ising model. We augment the model using an appropriate enforcement mechanism that may allow policy makers to curb tax evasion. With a certain probability tax evaders are subject to an audit. If they get caught they behave honestly for a certain number of periods. Simulatin…
This paper combines and develops the models in Lastrapes (2002) and Mankiw & Weil (1989), which enables us to analyze the effects of interest rate and population growth shocks on housing price in one integrated framework. Based on this model, we carry out policy simulations to examine whether the housing (stock or flow…
This article describes and explores taxes and debt in finance. Here a situation is thought about, where tax payments would qualify to be considered as debt. Using this principle we can infer that it is possible to create and price a type of bond (Tax Normalization Guarantee) for companies, which would allow them to ent…
Tool detects tax evasion on social media using multi-modal deep learning.
problem Detecting tax evasion on social media platforms.
method Developed a multi-modal deep neural network combining comments, hashtags, and images.
result Multi-modal deep neural network achieved AUC of 0.808 and F1 score of 0.762.
Wealth redistribution through Fokker-Planck equation controls preserves Gini coefficient.
problem Preserving Gini coefficient through proportional wealth tax.
method Formulating optimal redistribution as a control problem for Fokker-Planck equation.
result Progressive taxes redistribute within policy-relevant timescales.
We investigate an inhomogeneous Ising model in the context of tax evasion dynamics where different types of agents are parametrized via local temperatures and magnetic fields. In particular, we analyse the impact of backauditing and endogenously determined penalty rates on tax compliance. Both features contribute to a …
Wealth tax equivalent to government stake, affecting returns and portfolio choice.
problem Effect of proportional wealth tax on asset returns and portfolio choice.
method Analyzes the economic equivalence and multiplicative separability of wealth tax, deriving four main results.
result The coefficient of variation of wealth is invariant to the tax rate, and optimal portfolio weights are independent of the tax rate.
This paper investigates - on the basis of the Cont-Bouchaud model - whether a Tobin tax can stabilize foreign exchange markets. Compared to earlier studies, this paper explicitly recognizes that a transaction tax-induced reduction in market depth may increase the price responsiveness of a given order. We find that the …
Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.
problem Ambiguity in tax effects on consumer behavior due to irrationality and limited willpower.
method Examined through behavioral and neuroeconomics, analyzing consumer behavior in real life.
result Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.