Mgammal Mahfoudh Hussein, Al-Matari Ebrahim Mohammed, Alruwaili Talal Fawzi
Accounting Department-College of Business, Jouf University, Sakaka, Saudi Arabia.
Amran University, Amran, Yemen.
Humanit Soc Sci Commun. 2023;10(1):121. doi: 10.1057/s41599-023-01608-y. Epub 2023 Mar 21.
Collecting and managing taxes is a critical keystone to protecting a country's financial intensity and developing a country's tax system, where value-added tax (VAT) has proven to be a nurturing and steady foundation of income for governments. VAT is a primary source of financial gain in developing nations, which differs from economic income in developed nations, where economic income is primarily derived from tax income. This study examines the influence of the new VAT on non-financial Saudi-listed companies. We compared and examined the impact of the newly introduced 15% VAT in various non-financial sectors. Using charts, tables, appropriate variance analysis, and ARIMA model in the Difference in Difference approach. Regarding data, we targeted 2019 before the new VAT, the discovery of COVID-19, and 2020 after the new VAT and during the COVID-19 pandemic. Results show that a sharp increase in VAT (with other unmeasured variables in this study) has a significant positive/negative impact on inter-industry volatility in corporate financial reporting metrics and was even more dramatic with the COVID-19 disaster. The proposed 10% VAT increase has caused significant fluctuations in companies' metrics, for example, a decrease in average profits-2.16%, an escalation in more inactive companies, and a higher probability of bankruptcy among companies. Such an outcome would undoubtedly affect unemployment and possibly lead to a reduction in tax revenues in the long run. The consequences of an unexpected VAT increase raise the question of whether they accurately reflect the natural tax system in Saudi Arabia. Therefore, the Saudi government may consider the practical implications of outcomes before taking the next step in interventions in non-financial sectors.
税收征管是保护国家财政实力和发展国家税收制度的关键基石，其中增值税已被证明是政府收入的一个滋养性和稳定的基础。增值税是发展中国家财政收益的主要来源，这与发达国家的经济收入不同，在发达国家，经济收入主要来自税收收入。本研究考察了新增值税对沙特非金融类上市公司的影响。我们比较并研究了新引入的15%增值税在各个非金融领域的影响。在双重差分法中使用图表、表格、适当的方差分析和自回归积分移动平均模型。关于数据，我们选取了新增值税实施前的2019年、新冠疫情发现之时以及新增值税实施后的2020年且处于新冠疫情期间的数据。结果表明，增值税的大幅增加（本研究中还有其他未衡量的变量）对公司财务报告指标的行业间波动性有显著的正向/负向影响，在新冠疫情灾难期间影响更为显著。提议的增值税提高10%已导致公司指标出现显著波动，例如平均利润下降2.16%，更多不活跃公司数量增加，以及公司破产概率上升。这样的结果无疑会影响失业率，从长远来看可能导致税收收入减少。增值税意外增加的后果引发了一个问题，即它们是否准确反映了沙特阿拉伯的自然税收制度。因此，沙特政府在对非金融领域采取下一步干预措施之前，可能需要考虑这些结果的实际影响。
