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| Author: | Wehrheim, M. |
| Title: | Liquiditäts- bzw. Rentabilitätseffekte aufgrund der Inanspruchnahme steuerlicher Fianzierungshilfen |
| Journal: | Zeitschrift für Betriebswirtschaft
1997 : VOL. 67:2, p. 151-178 |
| Index terms: | TAXATION TAX CREDITS |
| Language: | ger |
| Abstract: | Financial tax relief does not normally involve final tax savings, but rather simply represents an interest-free tax credit based on shifting costs forward. If the initial profit tax savings obtained through financial tax relief is profitably invested, the result is not only an improvement in liquidity (in the form of the lower cash flow in the year that it is taken) but also a profitability effect in the form of interest profit. Financial tax relief measures lead to final tax savings in the case of later profit tax reduc- tions. This stems from the fact that the higher profits in later periods based on shifting costs forward are burdened with a lower tax rate. A final tax saving also comes about when higher profits occur in a time when the businessman finds himself in a lower income tax bracket owing to his whole economic situation. |
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