ANALISIS PENGARUH INSENTIF PAJAK TERHADAP JUMLAH PERUSAHAAN MELAKUKAN IPO (INITIAL PUBLIC OFFERING) DAN RIGHT ISSUE MELALUI KEPEMILIKAN SAHAM OLEH PUBLIK

• Main Authors: , Rizki Nugraha Aryodamar, , Drs. Setiono Miharjo, MBA., Ph.D
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2013
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/125653/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65823
• Institution: Universitas Gadjah Mada

This study aimed to examine the effect of tax incentives on number of companies doing IPO (Initial Public Offering) and Rights Issue. Tax incentives in question are tax incentives that are set in the Government Regulation No. 81 of 2007 concerning income tax rate for corporate taxpayers in the form of Listed Public Company. Regulations which came into effect on January 1, 2008 this gives reduced income tax rate of 5% (five percent) lower than the highest income tax rate of Domestic Corporate Taxpayers with the terms of the amount of public owns 40% (fourty percent) or more of the total paid up shares and shares owned by at least 300 (three hundred) parties, each party as set forth above may only have shares of less than 5% (five percent) of the total paid up shares, these requirements must be met by Taxpayers in a period of 6 (six) months within a period of 1 (one) year taxes. This tax incentive was published in order to increase the role of the capital market to finance the business and to encourage an increasing number of public companies as well as increased public ownership in a public company. Therefore, the research conducted on public companies that do an IPO (Initial Public Offering) and Right Issue after the tax incentives applicable public shareholding by up to 40% or more. Research begins with setting the sample companies that meet these criteria by using the data years 2007 to 2011. Sample obtained consists of 55 companies that did IPO and 20 companies that do Right Issue. Then on the sample, used the tax burden ratio is the ratio of current tax burden and corporate revenues between the number of years before and after the public shareholding by up to 40% or more. The study was conducted by examining the percentage of the tax burden ratio before and after the public shareholding by up to 40% or more by using the paired t-test. The results showed that there is no strong relationship and significant difference to the ratio of corporate tax burden before and after will be eligible for tax incentives. In the graph also shows there is no significant increase in the number of companies that go public after applicable tax incentives. So that there is no effect of tax incentives to increase the number of publicly listed companies and increasing public ownership in a public company.