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Fiscal and Accounting Implications of Income Tax in Romania

Author

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  • Alin Monea

    () (University of Petroșani, Romania)

Abstract

This paper presents some fiscal and accounting aspects of income tax like payers, applicability. It describe fiscal and accounting treatments of income tax and also IAS 12 treatment of tax income. Income taxes are an expense incurred in operating most businesses, and as such are to be reflected in the entity’s operating results. However, accounting for income taxes is complicated by the fact that, in most jurisdictions, the amounts of revenues and expenses recognized in a given period for taxation purposes will not fully correspond to what is reported in the financial statements.

Suggested Citation

  • Alin Monea, 2011. "Fiscal and Accounting Implications of Income Tax in Romania," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 11(4), pages 191-198.
  • Handle: RePEc:pet:annals:v:11:y:2011:i:4:p:191-198
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    File URL: http://upet.ro/annals/economics/pdf/2011/part4/Monea.A-2.pdf
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    References listed on IDEAS

    as
    1. Xavier Chojnicki & Riccardo Magnani, 2008. "Vieillissement, retraites et ouverture financiere en Europe : des reformes encore insuffisantes," Economie Internationale, CEPII research center, issue 113, pages 65-93.
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    More about this item

    Keywords

    income tax; tax base; amount; revenue; expense; benefits; tax lose;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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