Globalization Trends in Financial Accounting and Taxation of Business Entities in Compliance with the Implementation of EU Directives and Upcoming Recodification of Tax Legislation in the Czech Republi

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F17%3A10236695" target="_blank" >RIV/61989100:27510/17:10236695 - isvavai.cz</a>

Result on the web

<a href="http://ke.uniza.sk/sites/default/files/content_files/part_ii_final_3.pdf" target="_blank" >http://ke.uniza.sk/sites/default/files/content_files/part_ii_final_3.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Globalization Trends in Financial Accounting and Taxation of Business Entities in Compliance with the Implementation of EU Directives and Upcoming Recodification of Tax Legislation in the Czech Republi

Original language description

The paper deals with selected globalization trends in financial accounting and taxation of business entities in accordance with the implementation of EU directives and the upcoming recodification of tax legislation in the Czech Republic. The accounting of business entities in the Czech Republic is getting closer to the International Financial Reporting Standards (IFRS), which proved the amendment to the Act on accounting and other related accounting regulations in 2016 and 2017. After introducing these harmonizing changes, the paper for example defines key issues of the relationship between financial accounting and income tax, which are being discussed by the experts. These issues concern proposed options of using economic results from the accounting under IFRS as a base for income tax in the context of the current solution when the IFRS is first transformed to Czech Accounting Standards for tax purposes, which results in unwanted construct of tax accounting. The paper also lists tax issues and proposals which are being prepared and discussed – mainly in relation to the recodification of income taxes associated with the implementation of EU directives in the tax area as well as changes in other tax institutes, which primarily lead to greater tax neutrality of direct taxes.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50205 - Accounting

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Globalization and its socio-economic consequences : proceedings of the 17th international scientific conference : October 4-5, 2017, Rajecké Teplice, Slovak Republic

ISBN

978-80-8154-212-1

ISSN

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e-ISSN

neuvedeno

Number of pages

8

Pages from-to

613-620

Publisher name

University of Žilina

Place of publication

Žilina

Event location

Rajecké Teplice

Event date

Oct 4, 2017

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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