IAS/IFRS in Belgium: Quantitative Analysis of the Impact on the Tax Burden of Companies
AbstractThe adoption of IAS/IFRS in the European Union is part of the European Commission’s globaltax harmonisation policy whose aim is to establish a common (consolidated) corporate tax base. The paper shows that the impact of an IAS/IFRS- based tax accounting on the effective tax burden of Belgian companies is large and not uniform across sectors. Some sectors, like construction and automotive vehicles, experience much larger increases in effective tax burdens than others. Globally the impact is relatively important. The analysis is conducted thanks to the European Tax Analyzer, a multi-period forward looking program. In a European context, an IAS/IFRS-based tax accounting will increase the effective corporate tax burdens in all selected countries. However it will most probably maintain the current tax competitive positions of EU countries. The expected broadening of the tax base could constitute an opportunity to reduce the corporate income tax rate without changing the overall effective burden.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 05-011.RS.
Length: 50 p.
Date of creation: 2005
Date of revision:
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International Accounting Standards/International Financial Reporting Standards; Effective Tax Burden; Tax Accounting.;
Other versions of this item:
- Haverals, Jacqueline, 2005. "IAS/IFRS in Belgium: Quantitative Analysis of the Impact on the Tax Burden of Companies," ZEW Discussion Papers 05-38, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-05 (All new papers)
- NEP-CFN-2006-02-05 (Corporate Finance)
- NEP-PBE-2006-02-05 (Public Economics)
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