الكلمات الرئيسية: دورة المال؛ الحد الأدنى من المدخرات الهاربة؛ السيولة المالية

تدرس هذه الورقة سلوك دورة المال عند دمجها مع سرعة الحد الأدنى من المدخرات الهاربة وسرعة السيولة المالية (بيرغكويست وآخرون، 2020؛ كاي، 2017؛ كاموس وجيمبر، 2018؛ غولدشتاين وآخرون، 2020؛ هاي، 2016؛ سنو، 1988؛ سبيل وآخرون، 2018؛ وانغسنس وآخرون، 2020). تحدد العقود والاتفاقيات بين المشاركين في المعاملات الخاضعة للرقابة كيفية توزيع الأرباح والخسائر. يجب أن تذكر الاتفاقيات التغييرات في العقود (أكير ورابيلكي، 2010؛ العبيضي وآخرون، 2021؛ ألتمن، 2012؛ بهويان وفرازماند، 2020؛ غاردينو ومتلر، 2020؛ ميشنر وبراور، 2020؛ راسموسن وكالان، 2016؛ سوانستروم وآخرون، 2002؛ تاب، 2015). هذه هي السبب الذي يجعل السلطات الضريبية يجب أن تقوم بعمليات تفتيش دورية. إن تحديد العقود بشكل دوري مهم لتحليل القابلية للمقارنة (تشالوميس، 2018د، 2019ج، 2019أ، 2020ج، 2021ج، 2021ف، 2022هـ، 2022د، 2023أ، 2023ب، 2023ي، 2023ر، 2023م، 2023ي، 2024ب، 2024ف). تعتبر هذه التفتيشات الدورية للشركات المشاركة في المعاملات الخاضعة للرقابة حاسمة لمبدأ المسافة العادلة. يتم تحديد تقاسم التكاليف بعد ذلك من خلال إجراء فحوصات دورية على الأطراف المختبرة. علاوة على ذلك، يجب أن يتم الإخطار بأن الشركات المشاركة في المعاملات الخاضعة للرقابة وفي نفس الوقت يتم إجراء تفتيشات السلطات الضريبية تحت شرط التعديلات النسبية. تفسير شرط التعديلات النسبية هو أن الشركات التي تشارك في المعاملات الخاضعة للرقابة في كثير من الأحيان لا تمتلك البيانات المناسبة والمعاملات غير الخاضعة للرقابة في ظروف مماثلة للمقارنة وبالتالي تقوم بتعديل بياناتها بشكل نسبي (تشالوميس، 2019ز، 2020د، 2021هـ، 2021ب، 2021أ، 2023هـ، 2023ف، 2023أب، 2023هـ، 2024هـ، 2024د؛ كونستانتينوس تشالوميس، 2024). هذا يعني أنه إذا كانت
الشركات التي هي أطراف مختبرة تستنتج أن أرباح وخسائر الشركات من المعاملات غير الخاضعة للرقابة أعلى بكثير أو أقل بكثير، وبعد ذلك يقومون بعمل تشابه نسبي لمقارنتها ببياناتهم (أندريانسياه وآخرون، 2019؛ إيفانز وآخرون، 1999؛ غفليسياني، 2019؛ خادزيراديفا وآخرون، 2019؛ لاجاس وماكاريو، 2020؛ لابلاين ومازوكاتو، 2020؛ ميلجان، 2020؛ توريس سالسيدو وآخرون، 2015؛ ويليامسون ولوك، 2020). إنتاج السلع أو الخدمات يخلق أرباحًا وتكاليف للشركات:

الرمز يتعلق بعامل التأثير لتحليل القابلية للمقارنة والذي له أي طريقة إلى . الرمز z هو معامل يأخذ قيمًا بين 0 و 1 (تشالوميس، 2018هـ، 2018أ، 2019ب، 2022ج، 2023أد، 2023د، 2023ج، 2023ي، 2023أف، 2023ب، 2023أأ، 2023ج، 2023ن، 2024ج؛ كونستانتينوس تشالوميس، 2023). ما القيمة التي يمكن أن تُستقبل يتم تحديدها من خلال تأثير الطريقة (باستخدام قاعدة أفضل طريقة) على . الرمز لـ يتعلق بالتكلفة التي تنشأ من إنتاج السلع، والرمز لـ يتعلق بالتكلفة التي تنشأ من توزيع السلع.

وفقًا للمعادلة (1) إلى (6) من الممكن تحديد المعادلات التالية:

الرمز لـ في المعادلة السابقة يتعلق بمقدار الضرائب التي يجب دفعها للشركات المشاركة في المعاملات الخاضعة للرقابة في تطبيق مبدأ المسافة العادلة (تشالوميس، 2018ج، 2018ب، 2019د، 2020ب، 2021ي، 2021هـ، 2021ك، 2022ب، 2023أ، 2023ي، 2023ز، 2023أه، 2023و، 2024ج). الرمز هو مقدار الالتزامات الضريبية التي يمكن تجنبها من خلال تخصيص الأرباح والخسائر (AICPA، 2017؛ باككي وبيرناور، 2018؛ ديالو وآخرون، 2021؛ إريكسون، 2016؛ غروف وآخرون، 2020؛ سانشيز وآخرون، 2020؛ شرام، 2018؛ شوارتز، 2019؛ فيكترا وآخرون، 2020). علاوة على ذلك، هو معامل لمعدل الضرائب. ثم، توضح المعادلة (4) حالة مبدأ المسافة العادلة:

الرمز لـ في المعادلة السابقة يظهر الضرائب التي يجب دفعها للمؤسسات المشاركة في المعاملات الخاضعة للرقابة في تطبيق مبدأ الطول الثابت. ثم، هو معامل لمعدل الضرائب في حالة مبدأ الطول الثابت:

الضريبة على الشركات التي تشارك في المعاملات الخاضعة للرقابة لتسعير التحويل في حالة مبدأ الطول الثابت أعلى أو على الأقل تساوي تلك في حالة مبدأ المسافة العادلة. وبالتالي، مع مبدأ الطول الثابت يمكن للشركات المشاركة في المعاملات الخاضعة للرقابة التعامل مع القضايا التي تنشأ من تخصيص الأرباح والخسائر (أندرسون وآخرون، 2020؛ بينتو، 2009؛ إيوارت وآخرون، 2021؛ هاوسمان وآخرون، 2016؛ جونستون وبالارد، 2016؛ لويازا وبينينغز، 2020؛ مينغوي، 2020؛ مولر، 2020؛ نايك، 2019). لذلك، يمكن للسلطات الضريبية مواجهة آثار تسعير التحويل على الإيرادات الضريبية العالمية. يسمح مبدأ الطول الثابت باسترداد خسائر الضرائب من الإيرادات الضريبية العالمية من المعاملات الخاضعة للرقابة لتسعير التحويل (عبدالكافي، 2018؛ دومينغيز وبيكوريلي-بيري، 2013؛ هولكومب، 1998؛ هاوليت، 2020؛ كانانين، 2012؛ كيكينكو، 2020؛ ماكسويل، 2020؛ منظمة التعاون والتنمية الاقتصادية، 2020؛ ستون،
2008). يوضح المخطط التالي الإجراء الذي تتبعه الشركات المشاركة في المعاملات الخاضعة للرقابة لتخصيص أرباحها وخسائرها، التعديلات النسبية للبيانات، ومبدأ الطول الثابت:

يحدد الشكل 1 إجراء مبدأ الطول الثابت وتحليله الكمي لتحديد سلوك النموذج. يقدم القسم التالي نظرية دورة المال. المنهجية المطبقة هي طريقة Q.E. ونهجها الاقتصاد القياسي.

تتوافق الإيرادات الضريبية مع المدخرات التي كان يمكن أن تمتلكها الشركات إذا تم تجنب الضرائب. الطريقة التي يتم بها إدارة هذه المدخرات تختلف من حالة إلى أخرى. ثم يمكن إدارة فوائد الشركات بطريقة مختلفة تمامًا، كما يمكن أن يتم توفيرها أو فرض ضرائب عليها. تظهر نظرية دورة المال متى تعزز المدخرات الاقتصاد ومتى تعزز الضرائب الاقتصاد. يجب أن يكون هذا التحديد فصل المدخرات إلى المدخرات غير العائدة (أو المدخرات الهاربة) والمدخرات العائدة (أو المدخرات الإلزامية:

المتغير لـ يرمز إلى حالة المدخرات الهاربة. وهذا يعني أن هناك مدخرات لا تعود إلى الاقتصاد أو تعود بعد فترة طويلة. المتغير لـ يرمز إلى الحالة التي توجد فيها مدخرات هاربة تأتي من أنشطة تسعير التحويل. المتغير لـ يرمز إلى الحالة التي توجد فيها مدخرات هاربة ليست من أنشطة تسعير التحويل ولكن من أي نشاط تجاري آخر. على سبيل المثال، يمكن أن تشير إلى الأنشطة التجارية التي تأتي من
المعاملات غير الخاضعة للرقابة. المتغير لـ يرمز إلى السيولة المالية في الاقتصاد. المتغير لـ يرمز إلى الاستهلاك في الاقتصاد. المتغير لـ يرمز إلى المدخرات الإلزامية، التي تأتي من المواطنين والشركات الصغيرة والمتوسطة. المتغير لـ يرمز إلى حالة السيولة المالية في الاقتصاد. المتغير لـ يرمز إلى سرعة زيادة أو انخفاض السيولة المالية. المتغير لـ يرمز إلى سرعة المدخرات الهاربة. لذلك، المتغير لـ يرمز إلى مصطلح دورة المال (تشالوميس، 2019f، 2019e، 2021d، 2023o، 2023k، 2023q، 2023v، 2023s، 2023ah، 2023ag، 2024a).

وبالتالي، تُظهر دورة المال مستوى ديناميكية الاقتصاد وقوته. لذلك، تم الحصول على أن دورة المال تنمو عندما يكون هناك نظام ضريبي مثل حالة مبدأ الطول الثابت الذي يسمح بضرائب منخفضة على المعاملات غير الخاضعة للرقابة وضرائب أعلى على المعاملات الخاضعة للرقابة (بارتلس، 2005؛ ديلغادو رودريغيز ودي لوكاس سانتوس، 2018؛ دينغ ولي، 2011؛ خان وليو، 2019؛ كونغاتس وآخرون، 2019؛ سلطانة وآخرون، 2020). يجب الإشارة إلى أنه كما تعتبر المعاملات غير الخاضعة للرقابة، يحدث نفس الشيء مع حالات السيولة المالية للمواطنين والشركات الصغيرة والمتوسطة. علاوة على ذلك، هناك ثلاثة عوامل تأثير أساسية للضرائب المجزية (تشالوميس، 2018f، 2020a، 2021g، 2021j، 2022a، 2023t، 2023l، 2023x). الضرائب المجزية هي الضرائب الوحيدة التي لها دور فوري ومهم في سوق أي اقتصاد. هذه العوامل مرتبطة بالتعليم، ونظام الصحة في كل مجتمع، وبقية العوامل الاقتصادية الهيكلية ذات الصلة بالعاملين السابقين.

يمثل المخطط السابق دورة المال بالإضافة إلى جميع عوامل الضرائب المجزية:

في المعادلتين السابقتين تم استخدام بعض عوامل التأثير، وهي التي تم توضيحها أيضًا في المعادلة (14)، علاوة على ذلك المتغيرات و . المتغير يرمز إلى عامل التأثير لبقية الضرائب المجزية. رمز هو عامل التأثير للتعليم وأي معرفة تقنية (تشالوميس، 2019g؛ غرافس وآخرون، 2020؛ هاسلمان وستوكر، 2017؛ جومو ووي، 2003؛ كامراد-سكوت وماكنيس، 2012؛ مارومي، 2016؛ ميايله، 2017؛ ناش وآخرون، 2017؛ أوسلاتي، 2015؛ ريباسوسكيني وآخرون، 2019؛ ستراسهيم، 2019؛ سوسلوف وباساريفا، 2020). رمز يتعلق بعامل التأثير للصحة وأي شيء ذي صلة وداعم لهذه القضية. رمز و هما معامل الصحة وعامل التأثير الصحي وفقًا لذلك (أيتكن، 2019؛ آل-

عبيدلي وآخرون، 2021؛ ألتمن، 2012؛ أمانور-بودو وآخرون، 2014؛ أندريانسياه وآخرون، 2019؛ أندرو نيسكانو وآخرون، 2019؛ أنغويرا-تورييل وآخرون، 2020؛ أراي وآخرون، 2018؛ أربيل وآخرون، 2019؛ أزون، 2018؛ بيكر وآخرون، 2020؛ بالدوين وآخرون، 2011؛ فرناندو، 2022؛ فرانكو وآخرون، 2013).

باستخدام المعادلات (6) إلى (15) من الممكن الانتقال إلى المدخرات المختلطة. باستخدام المعادلات (1) إلى (15) من الممكن تحديد سلوك منفعة دورة المال. علاوة على ذلك، بما في ذلك المدخرات المختلطة :

في المعادلات السابقة، يمثل الذي يمثل المدخرات المختلطة. دور المدخرات المختلطة هو تمثيل أن المصانع، والبحث، ومراكز التنمية لديها مدخرات هاربة في نفس الوقت. الرموز المتبقية قد تم تعريفها بالفعل.

في المعادلات السابقة، و و هما القيم الأولية لسرعة المدخرات الهاربة ودورة المال. علاوة على ذلك، تمثل المعادلة المعادلة العامة لمدخرات الهروب:

المعادلة (26) تتعلق بالشكل العام لسرعة دورة المال. معامل و أخذ اثنان منهما قيمة ثابتة واحدة والأخرى صفر. يحدث نفس الشيء مع معاملات التي تأخذ أيضًا اثنان منهما قيمة ثابتة واحدة والأخرى صفر. بهذه الطريقة، هناك جميع التركيبات الممكنة لسرعات المدخرات الهاربة والسيولة المالية التي يمكن تعريفها من خلال معادلتين محددتين.

جدول المعاملات لدورة المال هو كما يلي:

تطبيق طريقة Q.E. مع المعاملات السابقة:

المعادلة (29) تمثل سرعة المدخرات الهاربة في الشكل 3a. المعادلة (30) تمثل السيولة المالية في الشكل 2b. سرعة المدخرات الهاربة عندما تكون في أدنى مستوى لها، زادت السيولة المالية مما يوفر دورة مال أعلى. لذلك، تم تعزيز الاقتصاد.

في هذه الورقة، تم الاستنتاج أنه في دورة المال عندما تكون المدخرات الهاربة محدودة، يكون للاقتصاد اتجاه إيجابي أقصى. هذا يعني أن الاستهلاك والاستثمارات ستزداد في أي اقتصاد، إلى أقصى حد. ولكن، تم تحديد أيضًا أن المدخرات الهاربة المحدودة تحول الشكل اللوغاريتمي لسرعة المدخرات الهاربة إلى شكل خطي.

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هذه مقالة مفتوحة الوصول موزعة بموجب الشروط والأحكام الخاصة برخصة المشاع الإبداعي (http://creativecommons.org/licenses/by/4.0/).

Keywords: Cycle of Money; Minimum Escape Savings; Financial Liquidity

This paper examines the behavior of the money cycle when combined with the velocity of minimum escape savings and the velocity of financial liquidity (Bergquist et al., 2020; Cai, 2017; Camous & Gimber, 2018; Goldsztejn et al., 2020; Hai, 2016; Snow, 1988; Spiel et al., 2018; Wangsness et al., 2020). Contracts and agreements between participants in control transactions determine how profits and losses are allocated. The agreements should be mentioned the changes in the contracts (Aakre & Rübbelke, 2010; AL-UBAYDLI et al., 2021; Altman, 2012; Bhuiyan & Farazmand, 2020; Guardino & Mettler, 2020; Michener & Brower, 2020; Rasmussen & Callan, 2016; Swanstrom et al., 2002; Taub, 2015). This is the reason why the tax authorities should make periodic inspections. The periodic specification of contracts is important for the comparability analysis (Challoumis, 2018d, 2019c, 2019a, 2020c, 2021c, 2021f, 2022e, 2022d, 2023ac, 2023b, 2023j, 2023r, 2023m, 2023u, 2024b, 2024f). These periodic inspections of companies involved in controlled transactions are critical to the arm’s length principle. The cost-sharing is then determined by conducting periodic checks on tested parties. Moreover, should be notified that the companies of controlled transactions and the same time the inspections of tax authorities are done under the condition of proportional adjustments. The interpretation of the condition of the proportional adjustments is that the companies that participate in controlled transactions many times don’t have the appropriate data and uncontrolled transactions of similar circumstances to compare and therefore they proportionally adjust their data (Challoumis, 2019g, 2020d, 2021e, 2021b, 2021a, 2023e, 2023f, 2023ab, 2023h, 2024e, 2024d; Constantinos Challoumis, 2024). This means that if the
companies that are tested parties conclude that the profits and losses of companies from uncontrolled transactions are much higher or much fewer, and after that they make a proportional analogy to compare them with their data (Andriansyah et al., 2019; Evans et al., 1999; GVELESIANI, 2019; Khadzhyradieva et al., 2019; Lajas & Macário, 2020; Laplane & Mazzucato, 2020; Miljand, 2020; Torres Salcido et al., 2015; Williamson & Luke, 2020). The production of goods or services creates profits and costs for the companies:

The symbol is about the impact factor of the comparability analysis which has any method to the . The symbol z is a coefficient which takes values between 0 and 1 (Challoumis, 2018e, 2018a, 2019b, 2022c, 2023ad, 2023d, 2023g, 2023y, 2023af, 2023p, 2023aa, 2023c, 2023n, 2024g; Constantinos Challoumis, 2023). What value could be received is determined by the influence of the method (using the best method rule) on the . The symbol of is about the cost which comes up from the production of goods, and the symbol of is about the cost which comes from the distribution of the goods.

According to Eq. (1) to (6) is plausible to determine the following equations:

The symbol of in the prior equation is about the amount of taxes that should be paid to the companies of controlled transactions in the application of the arm’s length principle (Challoumis, 2018c, 2018b, 2019d, 2020b, 2021i, 2021h, 2021k, 2022b, 2023a, 2023i, 2023z, 2023ae, 2023w, 2024c). The is the amount of tax obligations that can be avoided through the allocations of profits and losses (AICPA, 2017; Bakaki & Bernauer, 2018; Diallo et al., 2021; Erickson, 2016; Grove et al., 2020; Sánchez et al., 2020; Schram, 2018; Schwartz, 2019; Victral et al., 2020). Moreover, is a coefficient for the rate of taxes. Then, the Eq. (4) shows the case of the arm’s length principle:

The symbol of in the previous equation shows the taxes that should be paid to the enterprises of controlled transactions in the application of the fixed length principle. Then, is a coefficient for the rate of taxes in the case of the fixed length principle:

The tax for the companies that participate in controlled transactions of transfer pricing in the case of the fixed length principle is higher or at least equal to that of the case of the arm’s length principle. Thereupon, with the fixed length principle the enterprises of controlled transactions can tackle issues that come from the allocation of profits and losses (Anderson et al., 2020; Bento, 2009; Ewert et al., 2021; Hausman et al., 2016; Johnston & Ballard, 2016; Loayza & Pennings, 2020; Menguy, 2020; Mueller, 2020; Nayak, 2019). Therefore, the tax authorities can face the transfer pricing effects on the global tax revenue. The fixed length principle permits the recovery of the tax losses of the global tax revenue from the controlled transactions of the transfer pricing (Abdelkafi, 2018; Domingues & Pecorelli-Pere, 2013; Holcombe, 1998; Howlett, 2020; Kananen, 2012; Kiktenko, 2020; Maxwell, 2020; OECD, 2020; Stone,
2008). The next scheme illustrates the procedure that companies of controlled transactions follow for their allocations of profits and losses, the proportional adjustments of data, and the fixed length principle:

Fig. 1 determines the procedure of the fixed length principle and its quantity analysis for the determination of the behavior of the model. The next section presents the theory of cycle of money. The applied methodology is the Q.E. method and its econometric approach.

The tax revenues correspond to the savings that the companies could have if the taxes were avoided. The way that these savings are administrated is different from case to case. Then the benefits of the companies could be managed in a completely different way, as could be saved or could be taxed. The theory of cycle of money shows when the savings robust the economy and when the taxes robust the economy. This determination must be a separation of savings into the non-returned savings (or escape savings) and the returned savings (or enforcement savings:

The variable of symbolizes the case of the escape savings. This means that there are savings that are not returning to the economy or come back after a long-term period. The variable of symbolizes the case that there are escape savings that come from transfer pricing activities. The variable of symbolizes the case that there are escape savings not from transfer pricing activities but from any other commercial activity. For instance, could refer to the commercial activities that come from
uncontrolled transactions. The variable of symbolizes the financial liquidity in an economy. The variable of symbolizes the consumption in an economy. The variable of symbolizes the enforcement savings, which come from the citizens and small and medium-sized enterprises. The variable of symbolizes the condition of financial liquidity in an economy. The variable of symbolizes the velocity of financial liquidity increases or decreases. The variable of symbolizes the velocity of escape savings. Therefore, the variable of symbolizes the term of the cycle of money (Challoumis, 2019f, 2019e, 2021d, 2023o, 2023k, 2023q, 2023v, 2023s, 2023ah, 2023ag, 2024a).

Thereupon, the cycle of money shows the level of the dynamic of an economy and its robustness. Therefore, it has been obtained that the cycle of money grows when there is a tax system like the case of the fixed length principle which permits the low taxation of uncontrolled transactions and the higher taxation of controlled transactions (Bartels, 2005; Delgado Rodríguez & de Lucas Santos, 2018; Deng & Li, 2011; Khan & Liu, 2019; Kongats et al., 2019; Sultana et al., 2020). Should be mentioned that as uncontrolled transactions are considered the same happens with the cases of the financial liquidity of citizens and the small and middle-sized companies. Moreover, there are three basic impact factors of the rewarding taxes (Challoumis, 2018f, 2020a, 2021g, 2021j, 2022a, 2023t, 2023l, 2023x). The rewarding taxes are the only taxes that have an immediate and important role in the market of any economy. These factors are affiliated with education, with the health system of each society, and with the rest relevant structural economic factors of the prior two impact factors:

The previous scheme represents the cycle of money additionally with all the rewarding tax factors:

In the prior two equations used some impact factors, which are the which is also demonstrated in Eq. (14), moreover the variables and the . The variable symbolizes the impact factor of the rest rewarding taxes. The symbol of is the impact factor of education and any technical knowledge (Challoumis, 2019g; Grabs et al., 2020; Hasselman & Stoker, 2017; Jomo & Wee, 2003; Kamradt-Scott & McInnes, 2012; Marume, 2016; Miailhe, 2017; Nash et al., 2017; Oueslati, 2015; Ribašauskiene et al., 2019; Strassheim, 2019; Suslov & Basareva, 2020). The symbol of is about the impact factor of health anything relevant and supporting of this issue. The symbol of , and of the , are the coefficients of the health and the health impact factor accordingly (Aitken, 2019; AL-

UBAYDLI et al., 2021; Altman, 2012; Amanor-Boadu et al., 2014; Andriansyah et al., 2019; Androniceanu et al., 2019; Anguera-Torrell et al., 2020; Arai et al., 2018; Arbel et al., 2019; Azzone, 2018; Baker et al., 2020; Baldwin et al., 2011; Fernando, 2022; Franko et al., 2013).

Using Eq. (6) to (15) it is plausible to proceed to the mixed savings. Using Eq. (1) to (15) it is plausible to define the behavior of the utility of the cycle of money. Moreover, including the mixed savings :

In the previous equations the which represents the mixed savings. The role of mixed savings is to represent that simultaneously the factories, the research, and the development centers have escape savings. The rest symbols are already defined.

In the prior equations the and the are accordingly the initial values of the velocity of escape savings and the cycle of money. Moreover, the equation of represents the general equation of the escape savings:

Eq. (26) is about the general form of the velocity of the cycle of money. The coefficients of , took two of them one constant value , and the other one is zero. The same happens with the coefficients of which also two of them take one constant value and the other one is zero. In that way, there are all the possible combinations of velocities of escape savings and financial liquidities to be defined by two concrete equations.

The table of coefficients for the cycle of money is this:

Applying the Q.E. method with the prior coefficients:

Eq. (29) represents the velocity of escape savings in Fig. 3a. Eq. (30) represents the financial liquidity in Fig. 2b. The velocity of escape savings when it is at its minimum level the financial liquidity has increased offering a higher cycle of money. Therefore, the economy has been boosted.

In this paper, it has concluded that in the cycle of money when there the escape savings are limited the economy has a maximum positive orientation. This means that the consumption and the investments would be increased in any economy, at the maximum level. But, also it has determined that limited escape savings transform the logarithmic form of the velocity of escape savings into a linear form.

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