info:eu-repo/semantics/masterThesis
Incidencia de las obligaciones tributaras y laborales en la liquidez y rentabilidad de la cmac santa s.a. del periodo 2005-2007
Fecha
2016Autor
Arteaga Razuri, Brigitte Lisset
Institución
Resumen
The document begins with a review of the functioning of banks system in South American countries like Colombia and Chile. In the case of Colombia outlined developments in the late 90s, when closed Agricultural Banks, especially the Agricultural Credit Bank, saddled with the loss of profit attributable to the tax burden and excessive taxes from contracting staff. The Agricultural Credit Bank was founded on a basis of social need and support the country's poorest municipalities, was replaced by the Agrarian Bank, which has a new vision, which prevails over profit social service. In Chile, referring to the excessive tax burden that companies were compared to other countries (on income of individuals and corporate profits). It is mentioned that the tax burden on income was within the highest compared to countries with which to compete, so that the direction of the latter tax reform was not high, but rather simplify and skew for investment and savings. However, it is introducing a distortion that affects relative prices in the economy, and thus alters the decisions of private agents, introducing a cost in terms of a more efficient allocation of resources. Additionally it is mentioned that according to other technical work was established the low incidence of taxation as an instrument of redistribution of income in Chile, adding that the same happens in other Latin American countries with different tax structure. To minimize this effect, is estimated to be advisable to choose consumption taxes. The decline in income tax burden allows an increase in the profitability of capital, encouraging investment. The more intensive use of capital increases the productivity of labor, which translates into increased wages. Here arises the parallel with the Cajas Municipales in Peru, describing the results of the Fund of Lima, Trujillo in the box and the Santa Fund. From the SBS website have obtained the evolution of financial indicators and the structure of the administrative expenses for the period 2005 to 2008, which can help make a more complete comparative analysis of system performance Cajas Municipales in Peru and with respect to the working hypothesis: The employment tax obligations and have a strong impact on liquidity and profitability of the CMAC SANTA SA in the periods 2005-2007. The analysis of the EE FF and indicators helps to confirm the working hypothesis, because the increase of the items for tax obligations and work obligations deteriorating liquidity ratios, financial independence, solvency, as well as those of asset returns and gross and net margins. The main conclusions are set out in this work gave rise to the necessary reflection on the state's role in regulating the tax framework and labor standards, and should serve as an illustration of what happened in other countries to avoid excessive government taxation ends in a cycle inefficiency in financial institutions in the field of regulation. At the same time, the most eloquent reflection would be the largest and the perceived negative impact favored with brokerage services provided by the municipal savings, ie, small and micro entrepreneurs, and finally end the vicious circle, which expense is also suffering the economic and social development.