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lcrcp3 · 2022年02月15日

tax burden中文是什么？课税负担？不是应该税率越高负担越大吗

  1. CFA I
  2. FRA

NO.PZ2018062004000130

问题如下：

Peter is an analyst, to analyze the financial position of company ADC, he listed the following data. Which of the following conclusions is he most likely to make?

选项：

A.

In FY16, company ADC generated more profit than before.

B.

In FY16, the average tax rate decreased, but ROE stayed the same due to the decreased profitability.

C.

In FY16, the average tax rate increased, but ROE stayed the same due to the improved efficiency.

解释：

C is correct. In the form, only tax burden and asset turnover changed. According to definition, tax burden= 1-average tax rate; asset turnover= net revenue/assets, belonging to activity ratios.

In FY16, tax burden decreased, indicating that average tax rate increased. Asset turnover increased, indicating that efficiency improved, because activity ratios measure the efficiency in using assets to generate revenue.  Under the comprehensive effect of the two ratios, ROE stayed the same.The profitability stayed the same because EBIT margin didn't change.

为什么是1-的关系？
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2 个答案

Kiko_品职助教 · 2022年02月17日

嗨，努力学习的PZer你好：


对的。完全正确~

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

NANK · 2022年02月16日

由于 NI=EBT(1-t)，所以 tax burden=NI/EBT=1-t。

根据等式可以看出，平均税率t越大会导致 tax burden 越小，二者呈负相关关系，与常识相悖，这是需要特别记忆的点。

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NO.PZ2018062004000130问题如下Peter is analyst, to analyze the financiposition of company A, he listethe following tWhiof the following conclusions is he most likely to make?A.In FY16, company A generatemore profit thbefore.B.In FY16, the average trate crease but ROE stayethe same e to the creaseprofitability.C.In FY16, the average trate increase but ROE stayethe same e to the improveefficiency.C is correct. In the form, only tburn anasset turnover change Accorng to finition, tburn= 1-average trate; asset turnover= net revenue/assets, belonging to activity ratios.In FY16, tburn crease incating thaverage trate increase Asset turnover increase incating thefficienimprove because activity ratios measure the efficienin using assets to generate revenue. Unr the comprehensive effeof the two ratios, ROE stayethe same.The profitability stayethe same because EBIT margin 't change.asset turnover 提高，就是efficien提高，不是说明比之前生成更多的revenue 吗？

2023-09-05 21:05 4 · 回答

NO.PZ2018062004000130 tburn和average trate 总感觉是一个意思呢

2022-01-30 11:31 1 · 回答

NO.PZ2018062004000130 In FY16, the average trate crease but ROE stayethe same e to the creaseprofitability. In FY16, the average trate increase but ROE stayethe same e to the improveefficiency. C is correct. In the form, only tburn anasset turnover change Accorng to finition, tburn= 1-average trate; asset turnover= net revenue/assets, belonging to activity ratios. In FY16, tburn crease incating thaverage trate increase Asset turnover increase incating thefficienimprove because activity ratios measure the efficienin using assets to generate revenue.  Unr the comprehensive effeof the two ratios, ROE stayethe same.The profitability stayethe same because EBIT margin 't change.tax和ROE、asset turnover都是什么关系

2022-01-08 11:10 1 · 回答