세무상 이월결손금이 보고이익과 과세소득차이에 미치는 영향

This study investigates how tax carryforwards is associated with Book-Tax Differences. The corporate tax law of Korea has the allowance for tax carryforwards system which can deduct loss from taxable income within the next 5 years after the tax carryforwards has occurred. The sample consists of non-banking firms(4,920 Firm-years)with December fiscal year listed in Korean Stock Exchange over 1999-2008. The data on tax carryforwards, corporate governance variables were collected from the DART of Financial Supervisory Service and other firm-specific data was collected from Kis-Value Ⅲ database. The empirical results are summarized as follows. First, it was found that firms with tax carryforwards make more earnings management through adjustment for taxable income than other firms. These findings show that the manager uses the tax carryforwards to reduce tax expense. Secondly, The results on the size of money among the companies having tax loss carryforward did not show the significant results. Third, the companies having tax loss carryforward had positive results when they were faced with the carryforward deduction period of within 1 to 2 years. The overall consequence from this study shows that the executive positively uses tax carryforwards because the company with tax loss carryforward reduces the tax or does not take care of tax. Moreover, it means that Book-Tax Differences happen to adjust higher accounting benefit on taxation. This research provides control authorities with the political implication that there is company management profit balance inducement using taxation benefit in timing of raising the tax loss carryforward. Besides, it also contributes to financial accounts and taxation accounts on the point of systematical research to look into the managing inducement for profit balance concerning loss carryforward.