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Vol 22 No 7 July/August 2017

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The Influence of IAS/IFRS on the CCTB, Tax Accounting, Disclosure and Corporate Law Accounting Concepts: 'A Clash of Cultues'

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Edited by: Peter Essers, Theo Raaijmakers, Ronald Russo, Pieter van der Tas Leo van der Schee

ISBN13: 9789041128195
Published: January 2009
Publisher: Kluwer Law International
Country of Publication: Netherlands
Format: Hardback
Price: £117.00

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Depending on the goals to be achieved, there are many ways to calculate a company's profits. This is to a great extent due to the different aims of financial and tax accounting.

Financial accounting is undergoing a growing influence of IAS/IFRS. IFRS is also exerting a growing influence on tax accounting. This is especially visible in the European development of a Common Consolidated Corporate Tax Base (CCCTB) for multinational corporate entities. Although no formal link exists between IAS/IFRS and CCCTB, IFRS will likely be a strong material influence on various key elements of the CCCTB. Many tax professionals (and Member States) fear the influence of IAS/IFRS on tax accounting mainly given the divergent aims of IAS/IFRS and tax accounting.

The introduction of IAS/IFRS will have significant consequences for tax accounting, disclosure and corporate law accounting concepts in individual Member States. Since IAS/IFRS is strongly influenced by the Anglo-American view on accounting, a question arises regarding its potential influence on the various continental disclosure, tax and financial accounting systems. In other words, one can readily envision a confrontation of systems with totally different backgrounds. This insightful work focuses on the consequences of this ‘clash of cultures’ for tax accounting, disclosure and corporate law accounting concepts.

Series: Eucotax

Transfer Pricing in the US: A Practical Guide ISBN 9789041191960
To be published September 2017
Kluwer Law International
The Impact of Tax Treaties and EU Law on Group Taxation Regimes ISBN 9789041169051
Published August 2016
Kluwer Law International
Tax Treaty Override ISBN 9789041154064
Published April 2014
Kluwer Law International
CCTB: Common Consolidated Corporate Tax Base - Selected Issues (EUCOTAX 35)
Edited by: Dennis Weber
ISBN 9789041138729
Published May 2012
Kluwer Law International
Intermediation of Insurance & Financial Services in European VAT ISBN 9789041137326
Published August 2011
Kluwer Law International
From Marks & Spencer to X Holding: The Future of Cross-Border Group Taxation ISBN 9789041133991
Published August 2011
Kluwer Law International
Fiscal Sovereignty of the Member States in an Internal Market: Past and Future ISBN 9789041134035
Published December 2010
Kluwer Law International
Europe-China Tax Treaties ISBN 9789041132161
Published June 2010
Kluwer Law International
Integration Approaches to Group Taxation in European Internal Market ISBN 9789041127792
Published October 2008
Kluwer Law International
Tax Competition and EU Law
Carlo PintoResearch Associate, Department of Law, University of Amsterdam, Netherlands
ISBN 9789041199133
Published May 2003
Kluwer Law International