Evolving Connections Between Tax and Financial Reporting in Italy
This 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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- Margaret Lamb & Christopher Nobes & Alan Roberts, 1998. "International Variations in the Connections Between Tax and Financial Reporting," Accounting and Business Research, Taylor & Francis Journals, vol. 28(3), pages 173-188, March.
- 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.
- 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.
- 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.
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