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Sustainable Tax and Accounting Reporting in Building a New Tax Culture

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A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: closed (1 May 2025) | Viewed by 36980

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Special Issue Editors

Dr. Lidija Hauptman

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Guest Editor

Faculty of Economics and Business, University of Maribor, 2000 Maribor, Slovenia
Interests: corporate governance; financial accounting; entrepreneurship; financial reporting; accounting; financial analysis; financial statement analysis; auditing; management accounting; innovation
Special Issues, Collections and Topics in MDPI journals

Dr. Ivana Pavić

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Guest Editor

Faculty of Economics and Business, University of Zagreb, 10000 Zagreb, Croatia
Interests: accounting; international accounting; IFRS; state audit; state audit institutions
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The Sustainable Development Goals will be achieved through the improved mobilization of tax revenues and the transformation of tax culture among taxpayers (both institutional and individuals). Taxpayers are exposed to an increasing complexity of regulations and policies, new technologies, and new reporting demands from international organizations, which exert pressure on them to transparently report, affecting the strategy and implementation of tax compliance. It is expected that greater transparency and fairness in the global taxation system, which must be sustainable oriented, will be achieved through numerous tax and accounting reporting standards that have been adopted recently by various international professional institutions. Companies are required to adhere to tax laws and also have a duty to their stakeholders and communities to fulfill the expectations of effective tax governance. Meanwhile, for individual taxpayers, new mechanisms are being established to promote tax-sustainable behaviour. This Special Issue 'Sustainable Tax and Accounting Reporting in Building a New Tax Culture' is interested in the ideas presented in the following keywords.

Dr. Lidija Hauptman
Dr. Ivana Pavić
Guest Editors

Manuscript Submission Information

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Keywords

sustainable tax systems
sustainability reporting
sustainable accounting reporting
ISSB standards and reporting
tax transparency standards
common reporting standard (CRS)
GRI 207
country-by-country reporting
tax audit
tax aggressiveness
tax compliance
tax strategy and tax governance
sustainability tax strategy
tax frameworks
tax risk management
sustainable tax behaviour
tax culture

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Published Papers (9 papers)

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Research

19 pages, 263 KiB

Open AccessArticle

Determinants of Tax Decisions in Jordan: Income and Sales Auditor Perspective

by Sajed Al-Khleifat, Yousef Abu Siam, Mahmoud Nassar and Mohammed Haroun Sharairi

J. Risk Financial Manag. 2024, 17(12), 579; https://doi.org/10.3390/jrfm17120579 - 23 Dec 2024

Viewed by 793

Abstract

This study examines the factors influencing tax decision-making from the perspectives of income and sales auditors in Jordan. It explores how internal and external factors shape auditing processes and compliance. Using a sample of 215 tax auditors from 2018 to 2022, this study adopts a quantitative methodology and collects data through structured surveys. The findings highlight key variables such as auditor independence, professional experience, and taxpayer knowledge as significant factors influencing tax decisions. The study recommends enhancing auditor training, fostering independence, and improving taxpayer education to promote transparency and fairness in tax systems. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

20 pages, 1490 KiB

Open AccessArticle

The Predictive Grey Forecasting Approach for Measuring Tax Collection

by Pitresh Kaushik, Mohsen Brahmi, Shubham Kakran and Pooja Kansra

J. Risk Financial Manag. 2024, 17(12), 558; https://doi.org/10.3390/jrfm17120558 - 13 Dec 2024

Cited by 2 | Viewed by 1338

Abstract

Taxation serves as a vital lifeline for government revenue, directly contributing to national development and the welfare of its citizens. Ensuring the efficiency and effectiveness of the tax collection process is essential for maintaining a sustainable economic framework. This study investigates (a) trends and patterns of direct tax collection, (b) the cost of tax collection, (c) the proportion of direct tax in total tax collection, and (d) the tax-to-GDP ratio in India. By utilizing a novel grey forecasting model (GM (1,1)), this study attempted to predict the future trends of India’s direct tax collections, through which it aims to provide a concurrent and accurate future outlook on tax revenue, ensuring resources are optimally allocated for the country’s growth. Results revealed that direct tax collection has consistently increased in the past two decades, and the proportion of direct tax in total tax has also improved significantly. On the contrary, the cost of tax collection has decreased regularly, indicating the efficiency of tax collection. Forecasting shows that the collection from direct tax is expected to reach INR 30.67 trillion in 2029–30, constituting around 54.41% of the total tax, leaving behind collections from indirect tax at a total of INR 25.70 trillion. Such findings offer insights that could enhance revenue management strategies with policy decisions relevant to economists, government, and other stakeholders to understand trends and the efficiency of direct tax collection in India. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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24 pages, 4901 KiB

Open AccessArticle

Compliance Behavior in Environmental Tax Policy

by Suci Lestari Hakam, Agus Rahayu, Lili Adi Wibowo, Lazuardi Imani Hakam, Muhamad Adhi Nugroho and Siti Sarah Fuadi

J. Risk Financial Manag. 2024, 17(12), 542; https://doi.org/10.3390/jrfm17120542 - 29 Nov 2024

Viewed by 1832

Abstract

This study examines compliance behavior in the context of environmental tax policies, highlighting the essential role that these policies play in achieving the objectives of the Sustainable Development Goals (SDGs). Environmental taxes are crucial instruments for reducing environmental damage and increasing energy efficiency. Nevertheless, taxpayer compliance, which is impacted by several variables, including social acceptability, regulatory quality, and perceptions of fairness, is a key component of these policies’ efficacy. In contrast to earlier research, which frequently concentrated on certain kinds of tax or discrete policy mechanisms, this study takes a broad approach, looking at a range of environmental taxation instruments. Emerging trends, significant factors influencing compliance behavior, and noteworthy contributions from eminent authors and organizations are all identified via bibliometric and scientometric analyses. To create fair and effective environmental tax policies, interdisciplinary approaches and international collaboration are required. Along with presenting policies to improve environmental regulation compliance, this study offers insightful advice for businesses that can help them innovate toward sustainability and adjust to shifting policy. It also provides a solid theoretical base for future researchers by highlighting important areas that require more investigation, especially when it comes to the wider effects of environmental taxes on various industries. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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50 pages, 1705 KiB

Open AccessArticle

Flourishing MSMEs: The Role of Innovation, Creative Compliance, and Tax Incentives

by Prianto Budi Saptono, Ismail Khozen, Gustofan Mahmud, Sabina Hodžić, Intan Pratiwi, Dwi Purwanto and Lambang Wiji Imantoro

J. Risk Financial Manag. 2024, 17(12), 532; https://doi.org/10.3390/jrfm17120532 - 22 Nov 2024

Cited by 1 | Viewed by 3349

Abstract

This study explores the interplay between tax incentives, creative compliance, and innovation in enhancing business resilience and sustainability among micro, small, and medium enterprises (MSMEs) in Indonesia, addressing gaps in the existing literature regarding their interrelationships during crises. A cross-sectional survey of 360 MSMEs was conducted, utilizing the Partial Least Squares Structural Equation Modeling (PLS-SEM) approach to analyze complex relationships among variables. The findings reveal that creative compliance, including tax planning and avoidance, does not directly impact resilience or sustainability. While tax incentives did not significantly enhance resilience during crises, they contributed to long-term sustainability. Innovation emerged as a critical factor linking creative compliance to business success and fully mediating the effects of tax incentives on resilience. This study emphasizes the necessity for MSMEs to prioritize innovation in their strategies, particularly in conjunction with effective tax practices, and highlights the need for government support through simplified regulatory frameworks to foster an innovative business environment. Limitations include the challenges of incorporating control variables in SEM and the need for further research into the long-term effects of these factors on sustainable performance. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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13 pages, 301 KiB

Open AccessArticle

Exploring the Role of AI in Improving VAT Reporting Quality: Experimental Study in Emerging Markets

by Moustafa Al Najjar, Rasha Mahboub, Bilal Nakhal and Mohamed Gaber Ghanem

J. Risk Financial Manag. 2024, 17(11), 477; https://doi.org/10.3390/jrfm17110477 - 22 Oct 2024

Viewed by 1482

Abstract

In recent years, artificial intelligence has increasingly been interesting for its role in improving accounting practices. This research investigates whether there is a significant difference in value-added tax (VAT) reporting quality between traditional methods and those assisted by artificial intelligence (AI) in emerging markets. The experiment introduces an AI intervention using ChatGPT-4 to analyze data for accounting errors. The results demonstrate that AI-assisted reporting significantly improves reporting quality, as the AI effectively identified accounting errors that were missed in traditional reporting. This study makes a valuable contribution by providing novel, practical insights into the role and capabilities of AI in tax reporting, employing a rarely used experimental methodology to explore this topic. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

18 pages, 756 KiB

Open AccessArticle

An Empirical Analysis of Tax Evasion among Companies Engaged in Stablecoin Transactions

by Rubens Moura de Carvalho, Helena Coelho Inácio and Rui Pedro Marques

J. Risk Financial Manag. 2024, 17(9), 400; https://doi.org/10.3390/jrfm17090400 - 6 Sep 2024

Viewed by 1723

Abstract

This research investigates the relationship between stablecoin usage and tax evasion. We present a model that includes variables related to transactions such as intensity, frequency, environment on-chain (P2P) vs. off-chain (IntraVasp), and company characteristics such as age, sector, and size. Our model was empirically tested using a logistic regression based on data from the Brazilian Federal Revenue Service (Receita Federal do Brasil (RFB)) in 2021. This novel approach aims to understand the tax behaviours associated with stablecoin use in corporate financial practices. Our results indicate that the intensity, frequency, environment of transactions (specifically IntraVasp and P2P transactions), age, sector, and size are factors significantly associated with tax evasion behaviour. However, we found no evidence to suggest that firms engaging in only P2P transactions have a higher propensity for tax evasion than those engaging only in IntraVasp transactions. Our findings reveal that younger and medium-sized companies with intensive use of stablecoin, with high stablecoin transaction frequency, engaging in IntraVasp and P2P transactions, and belonging to the service sector are more likely to evade tax. Therefore, our research provides a detailed understanding of how digital financial practices with crypto assets (blockchain-based technology) intersect with corporate tax strategies, which can offer valuable insights for regulators, industry practitioners, and policymakers. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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19 pages, 301 KiB

Open AccessArticle

The Impact of Audit Oversight Quality on the Financial Performance of U.S. Firms: A Subjective Assessment

by Rebecca Abraham, Hani El Chaarani and Zhi Tao

J. Risk Financial Manag. 2024, 17(4), 151; https://doi.org/10.3390/jrfm17040151 - 10 Apr 2024

Cited by 3 | Viewed by 4929

Abstract

Audit committees are appointed by the board of directors of corporations to oversee the financial reporting process, monitor financial control processes, hire and assess independent auditors, and communicate findings with management and auditors. We propose two new measures of audit oversight quality. The first measure is purely subjective, in that it scores audit committees on a scale based on their ability to fulfill one or more of their responsibilities, as mentioned in annual reports, Form 10-K and DEF 13A. The second measure concerns audit committee activity, as it measures the number of times the term ‘audit committee’ is mentioned in these documents. Both measures were obtained for U.S. pharmaceutical companies and energy companies from 2010 to 2022. The audit oversight quality measures were regressed in regard to profitability (measured by return on assets and return on equity), debt capacity (measured by equity multiplier), and firm value (measured by Tobin’s q and economic value added). Audit oversight quality, using both measures, reduces the return on equity. Audit oversight quality, using both measures, had a disciplining effect on debt. Increases in the oversight of increasing debt discourage the propensity to increase borrowing using collateral (debt capacity), and reduce investor returns through investment in debt-financed projects (return on equity). Audit oversight quality, using both measures, exhibited a size effect on the firm’s value, in that an increase in the firm size with high audit oversight quality increases the firm’s value. However, it is possible that only the first measure of audit oversight quality significantly increased the firm’s value, as only the first measure exhibited robustness to the endogeneity effect of size. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

32 pages, 1129 KiB

Open AccessArticle

Tax Compliance in Slovenia: An Empirical Assessment of Tax Knowledge and Fairness Perception

by Lidija Hauptman, Berislav Žmuk and Ivana Pavić

J. Risk Financial Manag. 2024, 17(3), 89; https://doi.org/10.3390/jrfm17030089 - 20 Feb 2024

Cited by 3 | Viewed by 3870

Abstract

Complex tax systems can result in tax evasion, which further impacts the revenues necessary to achieve sustainable development goals. Enhancing taxpayer education, tax knowledge, and tax fairness perception is essential for boosting revenues to support societal sustainability. The aim of this study was to assess the levels of tax knowledge and tax fairness perception within the Slovene taxpayer population, with a specific focus on the differences related to gender and settlement size. Further, the connections between tax knowledge and various aspects of tax fairness were explored. The Kruskal–Wallis test was used to assess the statistical significance of gender and settlement size differences and the Kendall’s coefficient of rank to determine the association between the tax knowledge and fairness perception dimensions. The results provide evidence that highlights disparities in tax knowledge between male and female taxpayers (p-value = 0.0116). Additionally, this study demonstrates that settlement size does not significantly impact tax knowledge perception among Slovene taxpayers (p-value = 0.2067). However, tax fairness encompasses various dimensions, and our research reveals no disparities based on gender (p-value = 0.7263) or settlement size (p-value = 0.2786). When assessing the correlation between tax knowledge and tax fairness perception, the results indicate statistically significant but weak correlations in both directions, depending on the specific fairness dimension. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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17 pages, 1255 KiB

Open AccessArticle

Taxation Perspectives: Analyzing the Factors behind Viewing Taxes as Punishment—A Comprehensive Study of Taxes as Service or Strain

by Hunar Mohammed and Anita Tangl

J. Risk Financial Manag. 2024, 17(1), 5; https://doi.org/10.3390/jrfm17010005 - 21 Dec 2023

Cited by 7 | Viewed by 16517

Abstract

This research paper delves into the intricate relationship between taxpayers and taxation systems, seeking to understand the factors influencing individuals’ perceptions of taxes as either a service or a financial burden. The study employed online surveys to collect data from a diverse group of participants, using both quantitative and qualitative research methods. The research findings demonstrate that people’s perceptions of taxes are not solely shaped by economic factors but are also influenced by psychological aspects, government communication, and societal norms. In economically developed countries, citizens tend to have more positive tax perceptions due to the visible benefits of their tax contributions. In contrast, less developed nations often see negative perceptions rooted in the lack of apparent returns on taxes paid. Additionally, the fairness of tax policies and government communication significantly impact how taxes are perceived. This research provides insights for policymakers on how to enhance tax compliance and improve taxpayer–government relations. It suggests that progressive and fair tax policies can lead to higher compliance rates and increased revenue collection. Furthermore, simplifying tax systems and reducing bureaucratic obstacles can make tax compliance more accessible and less burdensome. The study also offers international case studies for best practices that can be adapted to different contexts. This study sheds light on the multifaceted nature of tax perceptions and their impact on economic behavior. It underscores the importance of considering both economic and psychological factors, as well as government policies and communication, in shaping taxpayers’ views on taxation. Full article

(This article belongs to the Special Issue Sustainable Tax and Accounting Reporting in Building a New Tax Culture)

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