Peculiarities of the fair value taxation regime for financial instruments

Warren Maroun

South African Journal of Accounting Research, 2015, vol. 29, issue 2, 151-161

Abstract: The enactment of s24JB represents a significant change in the taxation of financial instruments. The traditional approach of including amounts in gross income on the earlier of receipt or accrual is superseded by a fair value regime grounded in International Financial Reporting Standards. Initially, this approach appears logical, resulting in an alignment of the determination of taxable income and total comprehensive income for financial reporting purposes. A closer examination, however, reveals a number of tensions between the relevant International Financial Reporting Standards and s24JB. This confirms the position in the prior corporate governance and tax literature that seldom are new laws and regulations free from dysfunctional consequences.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10291954.2015.1006484 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rsarxx:v:29:y:2015:i:2:p:151-161

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rsar20

DOI: 10.1080/10291954.2015.1006484

Access Statistics for this article

South African Journal of Accounting Research is currently edited by Soon Nel

More articles in South African Journal of Accounting Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().