The relationship between accounting and taxation in the Republic of Ireland
Accounting profits form the basis on which Republic of Ireland tax liabilities are computed. For tax purposes these profits are adjusted to reflect the tax regulations which differ from accounting rules determining profit calculation. Fiscal policy can dictate treatment other than generally accepted accounting practice for certain transactions. Deferred tax provisions are used to match the tax charge in accounts with reported profits. Despite the independence of tax and accounting regulations, changes in accounting regulations are often complicated by the existence of tax implications. Equally, the tax authorities have in the past accepted changes in accounting treatment without penalty.
Volume (Year): 5 (1996)
Issue (Month): 1 ()
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