정치적 비용과 세무계획 : 원자력발전사업자의 사용후 연료 처분 사례

This case study is to show the importance of political costs in tax planning using the case of the processing costs of spent nuclear fuel of Nuclear Power Corporation(hereinafter "NPC"). NPC recorded the future processing costs as the provision of financial statements that can not be deducted from taxable income. In 2009, Congress enacted a new law that enforce NPC to pay for the future processing costs to the government fund. By this law, the provision was transformed into defined liability and NPC filed it as deductible expense on tax return. Tax authority and local government were strongly opposed to NPC’s tax plan. The tax authority rejected NPC’s declaration and imposed a penalty and the local government tried to make up for the tax deficit by raising the special property tax. If their attempts were successful, NPC would have incurred tremendous additional taxes that would exceed the tax savings from the tax plan. This potential additional taxes were a political costs against corporate tax planning. Schoels et al. (2014) states that government and tax authority should be considered as partners in tax planning. If so not, the political costs will be incurred as nontax costs. This case illustrates how these political costs occur and why they occur.