No. 75. TAX EVASION IN CORPORATE FIRMS: ESTIMATES FROM THE LISTED FIRMS IN ATHENS STOCK EXCHANGE IN THE 1990s (in Greek)
C.N. Kanellopoulos. 2002.
This work utilizes primary data from tax inspections of companies conducted before their listing in the Athens Stock Exchange, during the 1990s. Such information combined with other economic variables, allows the estimation of the extent and the profile of tax-evasion of corporated companies. Besides tax-evasion measurement (defined either as the extra money that a company should pay as taxes, or as the percentage of tax-compliance), an effort to identify its determinants through a multi-variable empirical model is undertaken. Although the estimated tax-evasion is remarkable and varies considerably with the branch of economic activity, as well as between public and private firms, it turns out that the common impression that tax-evasion is massive is unsustainable. It was found that the exact amount of tax-evasion is connected positively with profits, the own-capital of the company and the amount of capital depreciation, while it is negatively influenced by the size of the company. Similar results are obtained for the percentage of tax-compliance.