scholarly journals The European Commission Proposal for a Council Directive on a Common Corporate Tax Base (CCCTB) as an Example of Applying Financial Accounting Standards in Taxation on the Corporate Income Tax

Teisė ◽  
2021 ◽  
Vol 119 ◽  
pp. 52-65
Author(s):  
Martynas Endrijaitis
Keyword(s):  
European Commission ◽  
Income Tax ◽  
Accounting Standards ◽  
Legal Regulation ◽  
Financial Accounting ◽  
Corporate Income Tax ◽  
Corporate Tax ◽  
Tax Base ◽  
Council Directive ◽  
Accounting Rules

This article discloses the conception of CCCTB and the relations between CCCTB and the legal regulation of financial accounting, including an analysis of concrete examples of how financial accounting rules are applied in CCCTB. The research highlights the necessity of applying financial accounting standards in CCCTB.

Deduction of notional interest on equity according to the draft of the European Commission for a Council Directive on a Common Corporate Tax Base

2018 ◽  
Vol 67 (3) ◽  
pp. 308-331 ◽  
Author(s):  
Manfred Rose
Keyword(s):  
European Commission ◽  
Corporate Tax ◽  
Tax Base ◽  
Council Directive

Abstract Der Beitrag untersucht die von der Europäischen Kommission 2016 im Entwurf für eine neue Richtlinie des Rates über eine gemeinsame Körperschaftsteuer-Bemessungsgrundlage vorgeschlagenen Regeln zum Abzug fiktiver Zinsen auf neu gebildetes Eigenkapital. Geprüft wird, ob hiermit die in den meisten Ländern der EU bestehende steuerliche Diskriminierung der Investitionsfinanzierung mit Eigenkapital beseitigt wird. Nach vereinfachten Investitionsrechnungen werden die Unternehmen dazu veranlasst, mehr eigenfinanzierte Investitionen zu tätigen. Mit einer gegenüber dem Kommissionsvorschlag modifizierten Bestimmung des steuerlich relevanten Eigenkapitals wird es möglich, die für die Harmonisierung der Bemessungsgrundlagen so bedeutsame Neutralität des steuerlichen Bewertungsrechts sowie eine steuerliche Gleichbehandlung unterschiedlicher Zeitverläufe von Investitionserträgen zu gewährleisten.

scholarly journals Possibilities of harmonization of direct taxes in the EU

2017 ◽  
Vol 14 (2) ◽  
pp. 191-199 ◽  
Author(s):  
Adela Feranecová ◽  
Eva Manová ◽  
Marek Meheš ◽  
Jana Simonidesová ◽  
Slavomíra Stašková ◽  
...  
Keyword(s):  
Income Tax ◽  
Slovak Republic ◽  
Complex Problem ◽  
Corporate Income Tax ◽  
Corporate Tax ◽  
Tax Base ◽  
Member States ◽  
Eu Member States ◽  
Tax Harmonization ◽  
The Eu

Currently, indirect taxes in the EU are highly harmonized, however, harmonization of direct taxes is still a very complex problem. Many EU member states refuse to give up their tax sovereignty, which would become considerably limited because of the har¬monization of direct taxes. Today, attention is paid to the harmonization of the tax base of corporate income tax, while a number of ways are under consideration. The European Council has issued a draft of Directive for a common consolidated tax base of corporate income tax in 2011 and updated in 2012. This draft must be approved by all member states, but some of them, however, have expressed on the draft in negative way. Because of the severity of this problems, the authors decided to focus on this topic within this article, which deals with the calculation of the tax base by the laws of the Slovak Republic and by Common Consolidated Corporate Tax Base (CCCTB); and evaluate whether the tax harmonization of direct taxes would be advantageous for the particular business.

scholarly journals Specifics of the Unearned Premium Reserve in the Accounting of Commercial Insurance Companies

2014 ◽  
Vol 62 (6) ◽  
pp. 1271-1277
Author(s):  
Jana Gláserová
Keyword(s):  
Income Tax ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Financial Statements ◽  
Legal Regulation ◽  
Equity Capital ◽  
Insurance Companies ◽  
International Accounting Standards ◽  
Tax Base ◽  
Commercial Insurance

Commercial insurance companies are liable to create, on the basis of risks arising from the fulfillment of the object of their activity, technical reserves, which are used to cover liabilities arising to insurance companies from insurance and reinsurance activity. The paper focuses on the technical reserve which is, in accordance with the accounting-legal regulation, created obligatorily in commercial insurance companies – it is the unearned premium reserve.The paper explores the role and place of this technical reserve in the accounting of the commercial insurance companies based on the analysis of its substance, i.e. the objective definition. The paper is based on the methodology of the accounting, evaluation and methods of determining the amount of the technical reserve which will affect the income from operations as well as income tax base of commercial insurance companies. The paper also studied the method of reporting of unearned premium reserve in accounting according to Czech accounting legislation in comparison with International Accounting Standards (IAS/IFRS). The aim of this paper is to determine the impacts of the creation and application of the unearned premium reserve on some important items of the financial statements, which are mainly the income of operations, equity capital and balance sheet as well as to identify the impacts of different reporting of this reserve according to Czech accounting legislation and in accordance with IAS/IFRS. Performing the analysis of the accounting-legal regulation of the unearned premium reserve in the insurance companies, the analysis of the method of accounting of this reserve and also the comparison of reporting of this reserve according to both mentioned regulations is a prerequisite for the fulfillment of the aim.

scholarly journals ANALISIS KOREKSI FISKAL DALAM RANGKA PERHITUNGAN PPH BADAN PT. KAWANUA DASA PRATAMA

2014 ◽  
Vol 8 (3) ◽  
Author(s):  
Felix Daniel Wongso ◽  
Jantje Tinangon ◽  
Stanley Walandouw
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Financial Statements ◽  
The State ◽  
Financial Accounting ◽  
Corporate Income Tax ◽  
Financial Reports ◽  
Taxable Income ◽  
Income Statement ◽  
A Company

PT.Kawanua Dasa Pratama is a company which is a resident and as an entity that has the responsibility to calculate, report, and deposit the tax payable to be paid to the State. However, there are problems that will occurred in the payment of taxes. This is due to the particular financial reports, especially income statement have commercial income statement and fiscal income statement. Both of them are distinctly different, from some point of views about Profit Commercial that refers to the Financial Accounting Standards, while referring to the Act Taxable Income - Tax Act applicable. These differences are simply found in the presence of income and expenses are recognized as income or expense by the company but are not recognized by the Tax. These differences require an adjustment or reconciliation so that the amount of corporate income tax payable are calculated by the company and the tax could be alike. The purpose of this study is to determine the fiscal income statement derived from the financial statements of fiscal correction in the commercial. In this study, obtained after correction of the fiscal profit of Rp 2.241.020.568 and had to pay tax of Rp 560.255.142.

scholarly journals Measuring the Effects of Corporate Tax Cuts

2018 ◽  
Vol 32 (4) ◽  
pp. 97-120 ◽  
Author(s):  
Alan J. Auerbach
Keyword(s):  
Multinational Corporations ◽  
Income Tax ◽  
Capital Investment ◽  
Corporate Income Tax ◽  
Tax Law ◽  
Corporate Tax ◽  
The Law ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA), the most sweeping revision of US tax law since the Tax Reform Act of 1986. The law introduced many significant changes. However, perhaps none was as important as the changes in the treatment of traditional “C” corporations—those corporations subject to a separate corporate income tax. Beginning in 2018, the federal corporate tax rate fell from 35 percent to 21 percent, some investment qualified for immediate deduction as an expense, and multinational corporations faced a substantially modified treatment of their activities. This paper seeks to evaluate the impact of the Tax Cuts and Jobs Act to understand its effects on resource allocation and distribution. It compares US corporate tax rates to other countries before the 2017 tax law, and describes ways in which the US corporate sector has evolved that are especially relevant to tax policy. The discussion then turns the main changes of the Tax Cuts and Jobs Act of 2017 for the corporate income tax. A range of estimates suggests that the law is likely to contribute to increased US capital investment and, through that, an increase in US wages. The magnitude of these increases is extremely difficult to predict. Indeed, the public debate about the benefits of the new corporate tax provisions enacted (and the alternatives not adopted) has highlighted the limitations of standard approaches in distributional analysis to assigning corporate tax burdens.

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