Taxes and Entrepreneurship Research: Future Agenda for PhD Scholars - Phdassistance

Taxes and Entrepreneurship Research: Future Agenda for PhD Scholars

An Academic presentation by Dr. Nancy Agnes, Head, Technical Operations, Phdassistance Group: www.phdassistance.com Email: info@phdassistance.com

TODAY'S DISCUSSION Outlin e

Introduction Taxation Policies and Entrepreneurial Opportunities Common Challenges with Taxation and Small Entrepreneurship Future Directions

INTRODUCTIO N The possible impacts from r, e v i el d e We tW

a W ho m i s e Pr

tax policies on any entrepreneurial initiatives have drawn much attention from policy makers as well as Researchers for some time now.

Innovation, as well as entrepreneurship are vital components of the macro-economy and small businesses do contribute in a substantial manner towards employment and growth of the economy.

Contd...

Acknowledging these aspects, policy makers at every level of government are said to have an extended history of trying to motivate small business initiatives on the basis of several tax related policies.

The level to which such policies could prove to be impactful would depend on the degree to which entrepreneurs would actually respond to taxes.

Contd....

Through this review, an attempt is made to Review extant Literature within this domain and outline the agenda for PhD scholars for undertaking research in future.

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TAXATION POLICIES AND ENTREPRENEURIAL OPPORTUNITIES

Figure 1: M e d i a n Tax Spread vd. I n c o m e

I n c o m e decile

Superficially, propensi t y

there clarity

is

a s to ta x polici e s

no

for

ha s th e ac t

to succes improvs e i n en trepren euentrepreneurs, rsh i p , o r mak e n o asa impac t opportunitie s to whatsoever. deterrent

C onventiona l type s o f practica l incom e relate d taxation s produc e incentive s P rogressiv e rate s ar e possi bl y offsetting . tha t taxes lower entrepreneurship.

the

returns

for

withi n ach ievin g succes s in Contd.. ..

How ev er , at th e same t ime , i t als o ac t s as a n insurance against losses. th e conventiona l structur e o f In addition , greate r opportuni ti e s fo r income tax offer s wh o avoidin g tax and evasion for are sel f -individuals employe d o r man y others whos e incomes are not reported bya third- party. f T hus , possibl y augmentin g return s rom entrepreneurship . Instead , intricacie s wiethi cod n e o f ta x ten d th produce substantial to costs in terms of complianc e ha an d hi gh scop e to admi nistration , s t change b e s i n th e cod e whi ch aggravate d wit h consisten o f tax .

Contd.. ..

The bottom- l ine here is that though i t would be tempting to assume that incentives l ike lowering of taxation rates could make a positive impact on small entrepreneurial initiatives, there is no conclusive Solution from the Theoretical and empirical l i teratures.

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COMMON CHALLENGES WITH TAXATION AND SMALL ENTREPRENEURSHIP PhD Scholars have been challenged with diverse problems in terms of data as well as estimation as per evidence presented through literature.

Therefore, it becomes imperative to succinctly deliberate such issues, prior to proceeding ahead.

Contd....

Wi th regard s to data , a s i t ha s bee n referred to above, i t is f requently very challenging

to acquire

data

that

is

useful for both taxations related policies as well as entrepreneurship.

P h D sch olar s ofte n hav e to tackl e question keepin g i n th e mi nd a specifipc defi ni tio n o f entrepreneurshi business

or

smal l ac ti vit y i n mind ,

, labl e woul d w arran t proxie s thathowever ar e av ai th e nee d fo r certai n compromise s i n almost all

studies.

Contd.. ..

Though the data that is presently available is much better than what existed earlier, the fact of the matter is that all measures of small business

activity

are in some or the other sense, proxies for what a Ph D scholar would actually have in mind.

This could prove to be very critical for Ph D scholars in terms of conducting an empirical analysis, particularly i f one is worried about bias f rom proxies to arise or more conventional types of measurement related errors.

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FUTURE DIRECTIONS

On the whole, L atest Literature on Entrepreneurship and taxation hints at a negative association between tax rates and measures related to entrepreneurship with the most consistent outcomes from modifications in rates of corporate taxes.

Evidence derived most recently from international literature also directs at a negative association between complexity and progressivity and an array of entrepreneurship measures.

A very critical warning to such generalizations could be observed through the United States based panel data studies on rates of federal taxes.

Contd....

Studies on the basis of survey related information tend to provide continuous positive association amongst entrepreneurship and taxation, whereas analysis on the basis of data pertaining to tax returns would suggest a negative impact that is more consistent with international

l i

terature.

This would also be f requently utilizing administrative data .

Considering that all available measures related to entrepreneurial initiatives are innately imperfect, i t provides t remendous scope for Ph D scholars in future to investigate i t .

Contd....

Therefore, Ph D Research Scholars in future need to carefully take into account diverse options with a view to analyse the strength of primary f indings and sensitivity to alternative assumptions.

In a worl d tha t survey

i s perfect , administrativ e data , alon g wi th matche d enabl e amongs tseemingl y di vergen t

would

reconcil iatio n smal l

outcomes f rom entrepreneuria l selfemployment.

incom e on

studie s

an d studie s

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