تعیین ساختار بهینه درآمدهای مالیاتی کشور بر اساس دو معیار ریسک و بازدهی

نویسندگان
ابراهیم نصیرالاسلامی 1
عزت اله عباسیان 2
1 دانشگاه بوعلی سینا
2 دانشکده مدیریت دانشگاه تهران
10.29252/jemr.9.36.235
چکیده
وجود یک منبع درآمد پایدار برای دولت به منظور تأمین هزینه­ های جاری و عمرانی از اهمیت ویژه ­ای برخوردار است. عمده­ درآمدهای دولت از دو منبع مالیات و درآمد نفتی حاصل می ­شود. با توجه به اینکه بخش اعظمی از نوسانات درآمد نفتی خارج از کنترل سیاست­‌گذاران داخلی است، از این نظر بهتر است به منظور کسب درآمدهای نسبتاً پایدار، بر درآمدهای مالیاتی تمرکز شود. به‌هرحال درآمدهای مالیاتی نیز تحت تأثیر سیکل ­های رونق و رکود قرار می­گیرند و از این نظر در دوره­ های رکود اقتصادی، کسب درآمد از این منبع نیز با مشکل مواجه می­شود. بنابراین راه­ حلی که در اینجا وجود دارد این است که کل درآمد مالیاتی کشور به عنوان یک سبد ( پورتفولیو) درآمدی در نظر گرفته شده و با توسل به روش­ های اقتصاد مالی به بهینه­ سازی آن پرداخته شود تا به این طریق ترکیب بهینه مالیات مشخص شود. بر این اساس در پژوهش حاضر با جمع ­آوری اطلاعات پایه ­های مختلف درآمدی کشور طی دوره 1396-1350 و استفاده از الگوی مارکویتز از دو رویکرد حداقل کردن ریسک و حداکثر کردن بازدهی، سهم بهینه پایه­ های مختلف درآمد مالیاتی کشور محاسبه شده است. نتایج پژوهش نشان داد که سهم ­های فعلی پایه­ های درآمد مالیاتی کشور از سهم ­های بهینه تفاوت فاحشی دارند.
کلیدواژه‌ها
ساختار درآمد مالیاتی
الگوی مارکویتز
پورتفوی بهینه
نسبت شارپ

عنوان مقاله English

Determinacy of the Optimal Structure of Tax Revenues Based on Risk and Return

نویسندگان English

Ebrahim Nasiroleslami 1
Ezatollah Abbasian 2
1 BU-Ali Sina University
2 University of Tehran
چکیده English

The existence of a stable source of income for the government is crucial for the financing of current and development expenditures. The major revenues of the government in Iran are derived from two sources of tax and oil revenues. Given that much of the oil revenue fluctuations are outside the control of domestic policymakers, it is better to focus on tax revenues in order to earn relatively stable revenues. However, tax revenues are also affected by cycles of boom and recession, and in terms of economic downturns, it is also difficult to earn money from this source. Thus, the solution for this problem is that the total tax revenue of the country is considered as a portfolio of income and applied to the methods of the financial economics to optimize it, in this way, an optimal combination Tax will be specified. Accordingly, in this study, by collecting information on different government revenues during the period of 1350-1396 and using the Markovitz model from two approaches to minimize risk and maximize returns, the optimal contribution of different tax bases for Iran has been calculated. The results show that the current share of the tax revenue base of the country is different from the optimal share.

کلیدواژه‌ها English

Tax Income Structure
Markovitz Pattern
Optimal Portfolio
Sharp Ratio
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