Abstract

This paper examines empirical evidence on the impact of financial distress on tax avoidance of 369 listed companies in Vietnam over the 2008–2020 period. Empirical results show the existence of a positive relationship between financial distress and tax avoidance for survey companies. In particular, the more the company is in danger of capital, the more tax avoidance it will take. The results also show that small companies will tend to avoid taxes more. Companies use debt leverage as a tax shield to help them reduce their tax obligations. Companies with large long-term assets are less likely to avoid taxes than companies with little long-term assets. And finally, the study also shows that the more the company has a big difference in book-tax, the more tax avoidance activities it will implement.

摘要

本文检验了 2008 年至 2020 年期间财务困境对越南 369 家上市公司避税行为影响的实证证据。实证结果表明，调查公司的财务困境与避税之间存在正相关关系。尤其是，公司越是面临资本危机，就越需要避税。结果还表明，小公司往往会更多地避税。公司使用债务杠杆作为税盾来帮助他们减少纳税义务。拥有大量长期资产的公司比拥有少量长期资产的公司更不可能避税。最后，该研究还表明，公司账面税差异越大，其实施的避税活动就越多。