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IAS/IFRS in Belgium: Quantitative Analysis of the Impact on the Tax Burden of Companies

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  • Jacqueline Haverals

Abstract

The 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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File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/53908/1/RePEc_sol_wpaper_05-011.pdf
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Bibliographic Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 05-011.RS.

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Length: 50 p.
Date of creation: 2005
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Publication status: Published by:
Handle: RePEc:sol:wpaper:05-011

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Keywords: International Accounting Standards/International Financial Reporting Standards; Effective Tax Burden; Tax Accounting.;

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References

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  1. Khurana, Inder K. & Kim, Myung-Sun, 2003. "Relative value relevance of historical cost vs. fair value: Evidence from bank holding companies," Journal of Accounting and Public Policy, Elsevier, vol. 22(1), pages 19-42.
  2. Colasse, Bernard & Casta, Jean-François, 2001. "Juste valeur : Enjeux techniques et politiques," Economics Papers from University Paris Dauphine 123456789/1858, Paris Dauphine University.
  3. Lammersen, Lothar, 2002. "The Measurement of Effective Tax Rates: Common Themes in Business Management and Economics," ZEW Discussion Papers 02-46, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  4. Michael P. Devereux & Rachel Griffith, 1998. "The Taxation of Discrete Investment Choices," Keele Department of Economics Discussion Papers (1995-2001) 98/08, Department of Economics, Keele University.
  5. Roger Gordon & Laura Kalambokidis & Joel Slemrod, 2003. "A New Summary Measure of the Effective Tax Rate on Investment," NBER Working Papers 9535, National Bureau of Economic Research, Inc.
  6. Johannes Becker & Clemens Fuest, 2004. "A Backward Looking Measure of the Effective Marginal Tax Burden on Investment," CESifo Working Paper Series 1342, CESifo Group Munich.
  7. Knirsch, Deborah, 2002. "Neutrality-based effective tax rates," Tübinger Diskussionsbeiträge 249, University of Tübingen, School of Business and Economics.
  8. Michael Devereux & Rachel Griffith, 1996. "Taxes and the location of production: evidence from a panel of US multinationals," IFS Working Papers W96/14, Institute for Fiscal Studies.
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Cited by:
  1. Gabriele Guggiola, 2010. "IFRS Adoption in the E.U., accounting harmonization and market efficiency: a review," Economics and Quantitative Methods qf1002, Department of Economics, University of Insubria.
  2. Kager, Rebekka & Niemann, Rainer, 2011. "Reconstruction of tax balance sheets based on IFRS information: A case study of listed companies within Austria, Germany, and the Netherlands," arqus Discussion Papers in Quantitative Tax Research 120, arqus - Arbeitskreis Quantitative Steuerlehre.
  3. Gaëtan Nicodème, 2006. "Corporate tax competition and coordination in the European Union: What do we know? Where do we stand?," European Economy - Economic Papers 250, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.

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