Income Tax Accounting: Problems and Solutions

Antonina Chyrva ()
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Antonina Chyrva: National University of State Tax Service of Ukraine, Irpin, Ukraine

Oblik i finansi, 2014, issue 4, 82-86

Abstract: In accounting when calculating income tax can arise differences caused by mismatch of updated national accounting regulations (standards) and Tax Code of Ukraine. So important is finding ways to improve methods and procedures of income tax accounting. In particular, it is reasonable to group the existing instructions and on their basis work out the rational algorithm of income tax accounting for business entities. The article is concentrated on justification of practical adaptation of legislative framework and methodological instructions on income tax accounting as a vital link in the mechanism of decision-making management. The problems arising in income tax accounting are exposed. Based on the rules of applicable legal documents determined the stages of taxable profit (loss) definition for the reporting period in accordance with the norms of Ukrainian Accounting Standards. The structural logic scheme in the methodology for determining income tax under the Tax Code of Ukraine is presented. The comparative analysis is conducted for methods of calculating taxable profit (loss) for the reporting period and directions for improvement of income tax accounting procedures are outlined.

Keywords: accounting; income tax; income tax calculating method; tax differences; Tax Code of Ukraine (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2014
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