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The article focuses on a case law concerning taxation of the trade balance after the Bilanzrechtsmodernisierungsgesetz (BilMoG) accounting law reform comes into force in Germany. It reports that determination of tax through the lower commercial law provision amount, and laws related to provision amounts in accordance with Section 6 (1) of Einkommensteuergesetz (EStG) income tax law.

The article discusses the case law concerning adherence to bookkeeping principles for storage of books, records and documents in electronic and data access form for profit determination purpose in purview of Abgabenordnung (AO) fiscal code of Germany. It mentions of non-tax accounting and recording obligations for tax law under the Handelsgesetzbuch (HGB) commercial code and accounting standards for how companies must prepare and financial reports.

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Canadian Tax Journal / Revue Fiscale Canadienne is the property of Canadian Tax Foundation and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article discusses newly issued guidance about key issues in Section 7701(o), the codification of the economic substance doctrine, and the associated penalty provision in Section 6662(b). In particular, Notice 2014-58 discusses the meaning of the statutory terms "transaction" and "similar rule of law." Although guidance about the meaning of key terms and concepts is always welcome, the new notice, which amplifies Notice 2010-62 (also discussed and criticized in the article), is not as helpful as it might have been. [ABSTRACT FROM AUTHOR]

In the article determines the essence the special bank tax. World experience of special taxing banks was studied. The author analyzed directions of practical implementation of the special taxation banks in Ukraine. Considering tendency of Ukraine's integration into Europe and the unification of the tax law, author recommends to accumulate gathering, which the banks are paying now to the Fund Deposit Guarantee, in the State Budget of Ukraine and give to it the status of a special bank tax, which has its own purpose. The author proposes make changes in Law of Ukraine «About the system Deposit Guarantee» about accountability of the Fund and disposal of funds. [ABSTRACT FROM AUTHOR]

The article focuses on the relevance of the generally accepted accounting principles (GAAP) for the tax accounting. Topics discussed include value of money in the low-interest-rate environment, role of tax lawyers in understanding the tax accounting and required valuation of the stocks present with the employees. It further discusses the role of the Internal Revenue System in accounting the tax liability of the taxpayers.

Not for the first time, Congress is considering a switch from realization-based capital gains taxation to an annual mark-to-market model. The Camp proposal now under discussion would change the rules for derivatives--and in so doing could bring other financial instruments into the mark-to-market net. Similar proposals have faded in the past, but as President Obama has included the concept in his 2014 Budget, investors and tax professionals alike are advised to pay attention this time around. [ABSTRACT FROM AUTHOR]

The article focuses on the use of the gatekeeping function by tax planning attorneys, which describes the tax planners' specialized knowledge on tax law for advisement to the client. Topics include how bar associations should react to gatekeeping by attorneys, conflicts of interest between tax attorneys and clients, and the ethical duties of attorneys.

A wide range of new tax measures affect 2013 as a result of intense legislative activity in the last quarter of 2012 -as well as earlier this year- that add to tax changes approved over the past year. These changes affect both direct and indirect taxation and include new tax measures to prevent tax fraud and the modification of the tax offense. The new legislative trends are focused on boosting economic activities, creating employment, and supporting new entrepreneurial projects. [ABSTRACT FROM AUTHOR]

The Commissioner has wide powers for the collection and recovery of tax which has been assessed and is due and payable, even if the assessment is the subject of an unresolved dispute. However, the courts have been willing to stay recovery proceedings in cases of a disputed assessment where allowing collection would bankrupt the taxpayer, thus precluding the resolution of the dispute. This article examines the circumstances under which a court may grant a stay, arguing that such power partially redresses the power imbalance in favour of the Commissioner, and serves the interests of the law by allowing a tax dispute to be resolved. To prevent frivolous disputes being used to defer collection, the article argues that a threshold test for determining genuine disputes would be the reasonably arguable position test. [ABSTRACT FROM AUTHOR]

Typically 'income tax' laws rely on financial accounting data to determine the taxable income of a business entity, although financial and tax accounting have different goals and requirements. The purpose of this paper is to explore the relationship between financial and tax accounting rules in Albania. The study employs a mixed methodology, comprising a review of the legislation, institutional framework and context, and semi-structured interviews with accountants, academics and institutional players. By reviewing the development of this relationship during the past 20 years, we aim to identify and explain the major divergences at present between two sets of rules. [ABSTRACT FROM AUTHOR]

El artículo presenta un análisis de las previsiones de la legislación de Puerto Rico y Estados Unidos con respecto a la responsabilidad como consecuencia de la impericia en el ejercicio profesional de la contaduría, con énfasis en el área de impuestos. La autora ofrece una revisión de distintas regulaciones de la profesión de contador, la cual es desde su punto de vista una de las profesiones más reguladas en los países analizados.

El artículo analiza decretos y sentencias en Derecho Tributario de España y Portugal emitidos entre mayo y septiembre de 2011. Entre las regulaciones discutidas se encuentran la Ley 9/2011 de aporte fiscal para medidas de sostenibilidad del sistema nacional de salud, convenios de doble tributación celebrados por España en el periodo discutido y normativa sobre adopción de normas internacionales de contabilidad relevantes para el ejercicio fiscal de Portugal.

The execution of a spontaneous tax regularization give rise to uncertainties and extra costs in too many cases derived from the practice of the tax administration when they imply a late payment for a tax return and a corresponding reimbursement in another tax return. In this article, such problems as well as the legal and court reaction are analyzed and an alternative is proposed based on a joint regularization of all tax returns involved. [ABSTRACT FROM AUTHOR]

The article presents a sample law that offers several options for a First Nation to consider including in its law, other procedures that a First Nation could select, and which assumes that the First Nation has imposed the Fiscal and Statistical Management Act (FSMA) assessment and taxation laws. It presents the preamble of the Taxpayer Representation to Council Law. Definitions and references are cited. Other topics discussed include notice of proposed tax rates and annual budget, access to documents and representations to council at council meetings.

Purpose - The purpose of this paper is to investigate a postulated tightening of privacy laws on the capacity of taxation authorities to verify taxation data. Design/methodology/approach - This paper is humorous fiction. Findings - The taxation authorities must continue to update the methodologies to keep abreast of business developments - both legal and technological. Research limitations/implications - Complexity in legislation can lead to unintended effects. Originality/value - The paper is speculative fiction that reflects on a possible scenario in a manner that will promote discussion. [ABSTRACT FROM AUTHOR]

This paper comments critically on the proposed provisions governing the Taxation of Financial Arrangements (TOFA). It describes the tortuous consultation process and the somewhat piecemeal introduction of aspects of the taxation of financial arrangements legislation that have come in. It critiques the approach taken in the Exposure Draft and identifies a number of anomalies. The article regrets that the revenue authorities have been reluctant to link tax outcomes more directly to accounting outcomes in relation to taxing financial arrangements. The article notes the breadth of impact on a range of taxpayers that the Exposure Draft will have. The article accepts that some of the provisions appear to be moving in the right direction, but notes that there is still a need for modification and fine tuning before the legislation can be fairly regarded as final. [ABSTRACT FROM AUTHOR]

The article briefly reports on various newly introduced regulatory laws and legislation related to tax accounting in the U.S. A new section 199, titled "Deduction Relating to Income Attributable to Domestic Production Activities, has recently been enacted as part of the American Jobs Creation Act of 2004. There are provisions for a phased-in deduction of 9 percent of the lesser of the qualified production activities income of the taxpayer for the tax year, or taxable income for the tax year. In the U.S. Treasury Decision number 9107, 2004-7 I.R.B. 447, final regulations were issued under section 263(a). These new regulatory laws address provisions for the capitalization of amounts paid or incurred to acquire, create, or enhance intangible assets. Several tax accounting-related cases and administrative rulings are also discussed here, including Illinois Tool Works, Inc. v. Commissioner, Charles Schwab Corporation v. Commissioner, and Sunoco Inc. v. Commissioner.

Copyright of Canadian Tax Journal / Revue Fiscale Canadienne is the property of Canadian Tax Foundation and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Examines issues relating to tax-inventory valuation methods for farmers under Section 471 of the Internal Revenue Code. Criteria used in determining whether a taxpayer's activities constitute farming; Accounting methods corporate and noncorporate farmers may employ in valuing ending inventories; Ramifications for farmers when the Commissioner claims incorrect method of accounting.

This article provides the results of an empirical survey on the degree of harmony of deferred taxation accounting policies of European listed companies over the period 1978-1988. The purpose of the study is to measure the degree of harmony in each year, to determine the extent to which harmonization took place during that period and the impact of European community harmonization efforts. The study reveals a more positive image of the degree of harmony of accounting for deferred taxation in the European community and the related harmonization efforts than expressed in the literature.

Examines the legislations for tax accounting in the United States. Imposition of alternative minimum tax for construction contracts; Amendments in the percentage of completion capitalized cost method; Rules for long-term contracts.

Focuses on the proposed amendments concerning tax accounting in the United States. Regulations of the Internal Revenue Service on the filing of amended returns by taxpayers; Provision of procedure for cash basis insurance agents to obtain consent for a change in income accounting; Right of the manufacturer to repurchase inventory.

This article focuses on retroactive excise taxation. In the case of federal taxes in recent years the contestants have been almost universally defeated, so that one questions whether there is any real limitation upon the congressional power to tax. Of course there are the express limitations in the Constitution itself. Retroactive excise taxation, so far as present federal legislation is concerned, seems to be confined to this phase of estate taxes. However, it is natural, after an event, to wish that the laws existing at the time had been otherwise.

The author discusses the impact of new revenue code on accounting. He describes the effects of taxation and tax laws on accounting theory and practice. He discusses the probable effects of changes in taxing rules on accounting practice. He clarifies the possible effects of tax rules on non-tax accounting by way of illustration. He further mentions two new methods which may be used for tax purposes, which are, the double-rate declining balance method and the sum of the years-digits method. He mentions the effects of changes that occur when a taxpayer changes from accrual method of reporting installment sales to the installment method and changes in the selection of fiscal years for tax purposes. He discusses the change that could affect the willingness of taxpayers to change from an accounting method for accounting purposes. He briefly mentions the minor changes which effected in bringing tax accounting closer to financial accounting and code changes which affect accounting indirectly. He mentions the responsibilities of the accounting profession in face of the new internal revenue code.

The article presents a method to ease the burden involved in tax computations. The final state tax may be computed by computing a tentative federal tax on federal income before deduction of state tax. Compute a tentative state tax on state income reduced by the tentative federal tax. Quite frequently, the net income subject to federal tax is not the same as that subject to state tax. The deduction for contributions is limited to 5 per cent of the net income before contributions on federal corporation returns, similar limitations exist under state laws. A slight modification is required if a corporation has capital gains or dividend credits, and is subject to the limitation on contributions. In that case the effective rate cannot be used in computing the tentative Federal tax, instead 5 per cent of the total income before contributions is to be deducted from income, taxable at ordinary rates, and the nominal rate is applied to the balance, but the correction factor is computed by using the effective rate. The method provided is an improvement over the familiar trial-and-error method.

The Neumark report draws attention on several occasions to taxes that affect citizens, including income tax, wealth tax, inheritance tax and taxes on motor vehicles, while also making a number of recommendations. However, the subject of citizens and taxation attracted little attention in the first fifty years of the EU, with the primary focus of cooperation being on economic matters. A Savings Tax Directive was adopted, and there has also been quite some ECJ case law on specific national schemes' compliance, or otherwise, with EU law. The Treaty of Maastricht widened European cooperation to include the second and third pillars, and also of course monetary cooperation. Another relevant development was the introduction of Citizenship of the Union. Since the Treaty of Lisbon came into force on 1 December 2009, Brussels has been devoting increasing attention to the citizens of Europe, including in the field of taxation. Tax obstacles for citizens in cross-border situations now need to be identified and resolved so that European citizens, too, can enjoy the full benefits of the single market. [ABSTRACT FROM AUTHOR]