Evolving Connections Between Tax and Financial Reporting in Italy
AbstractThis paper analyzes the evolution of the relationship between tax and financial reporting in Italy after the mandatory introduction of IFRS for listed companies in 2005. In order to assess this link we will use the methodology developed by Lamb et al. (1998). Italy represents an interesting case study because IFRS have become mandatory, for listed companies, also for what concerns individual, and fiscally relevant, accounts. Therefore, two accounting systems, one based on IFRS and one based on Italian Gaap coexist, originating the emergence of two rather different linkages between tax and financial reporting. IFRS and tax reporting exhibit an high degree of disconnection, while Italian Gaap, according to a continental European accounting tradition, are heavily linked to fiscal rules. The analysis will point out a rapidly evolving situation, with links between both accounting systems (IFRS and Italian Gaap) and tax reporting getting tighter as a consequence of last years tax reforms. JEL Classification: H20, M41
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Bibliographic InfoPaper provided by Department of Economics, University of Insubria in its series Economics and Quantitative Methods with number qf1001.
Length: 27 pages
Date of creation: Jan 2010
Date of revision:
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More information through EDIRC
Taxation; Accounting; International Financial Reporting Standards (IFRS);
Find related papers by JEL classification:
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
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- Christopher Nobes & Hans Robert Schwencke, 2006. "Modelling the links between tax and financial reporting: A longitudinal examination of norway over 30 years up to IFRS adoption," European Accounting Review, Taylor & Francis Journals, vol. 15(1), pages 63-87.
- Christopher Nobes & Ester Oliveras & Xavier Puig, 2004.
"The changing relationship between tax and financial reporting in Spain,"
Economics Working Papers
782, Department of Economics and Business, Universitat Pompeu Fabra.
- Ester Oliveras & Xavier Puig, 2005. "The Changing Relationship between Tax and Financial Reporting in Spain," Accounting in Europe, Taylor & Francis Journals, vol. 2(1), pages 195-207, January.
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