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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
Renata Gabršek
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DOI:10.17265/1537-1514/2017.02.005
Affiliation(s)
Kapitalska družba, d. d. Pension Fund Management, Ljubljana, Slovenia
ABSTRACT
Companies,
which operate in different countries and generate same revenues and expenses due
to different tax laws in each country, create larger or smaller results. Tax statements
in most cases differ from the financial statements. The purpose of research was
to determine what are the differences in corporate profits, and the amount of tax
firms in different countries. It was made for the
simulation calculations of business balance sheets and tax balance sheets for the
three countries. The starting point is to
identify the amounts of revenues, costs, and expenses and then
add the impact of local laws and accounting standards which have an impact on different
heights of the income tax and deferred taxes. The
study includes three countries, which differ in their laws on corporation
tax and have in their local accounting
standards: International Financial Reporting Standards and
International Accounting Standards. The
research showed the least tax paying companies in Serbia
and the more tax paying companies in Croatia. The maximum period for the tax payment
is in Serbia, while Slovenia has
the best conditions for the benefit tax losses from previous years.
KEYWORDS
taxes, financial statements, costs, revenue, expenses, laws, accounting standards, accounting
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