Fiscal and Accounting Implications of Income Tax in Romania

Alin Monea

Annals of the University of Petrosani, Economics, 2011, vol. 11, issue 4, 191-198

Abstract: This paper presents some fiscal and accounting aspects of income tax like payers, applicability. It describe fiscal and accounting treatments of income tax and also IAS 12 treatment of tax income. Income taxes are an expense incurred in operating most businesses, and as such are to be reflected in the entity’s operating results. However, accounting for income taxes is complicated by the fact that, in most jurisdictions, the amounts of revenues and expenses recognized in a given period for taxation purposes will not fully correspond to what is reported in the financial statements.

Keywords: income tax; tax base; amount; revenue; expense; benefits; tax lose (search for similar items in EconPapers)
JEL-codes: H2 K34 M41 M48 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pet:annals:v:11:y:2011:i:4:p:191-198

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