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- Title
Im Spotlight: Aktuelle Trends im Bilanzsteuerrecht.
- Authors
Prinz, Ulrich
- Abstract
The article "In the Spotlight: Current Trends in Tax Accounting" discusses various current trends in tax accounting. One topic is the introduction of the E-Balance Sheet according to § 5b EStG, which must also be submitted by small businesses. Another trend is the discussion about the possible use of the IFRS individual financial statements as a basis for determining taxable profits in large companies. The article also deals with the amended discounting rules for liabilities and provisions through the Fourth Corona Tax Relief Act. The standardized discounting of liabilities is abolished, while it is retained for provisions. The new regulations apply from December 31, 2022. The statutory transitional provision opens up tax accounting policy leeway. The functioning and resulting questions within the legal reorganization are illustrated using two examples. The first example deals with a company acquisition in which interest-free or low-interest loans are to be granted. The second example deals with an interest-free bond. Various options for the tax accounting treatment of these liabilities are discussed. In addition, the distinction between long-term liabilities and provisions is explained. The article also highlights current tax accounting implications in connection with the Corona pandemic and the Ukraine war. The article discusses various trends in tax accounting. It refers to discussions on sustainability reporting, ESG accounting, and non-financial reporting. The EU Taxonomy Regulation and the demand for intergenerational justice with regard to the Climate Protection Act have political implications for the accounting law of companies. In addition, accounting issues related to digitization and intangible assets as well as tax depreciation are discussed. The BMF letter on the immediate depreciation of digital assets has caused a stir in practice. The text deals with various topics in the field of tax accounting. It is pointed out that there are still differences between commercial and tax accounting that can lead to passive tax latencies. It is also mentioned that intangible data treasures are considered the "raw material of the future". In addition, decisions of the Federal Court of Justice on accounting issues and the Federal Fiscal Court on economic ownership are discussed. Finally, some legal changes in accounting law are mentioned that can have an impact on tax accounting law. On July 1, 2021, new regulations came into effect to make balance sheet controls and the enforcement procedure for capital market-oriented companies more efficient. However, these reforms do not have any impact on tax accounting. Four areas are mentioned that may not cause significant fiscal losses and are therefore suitable for tax accounting reform considerations. The standardization of the comparison of operating assets and the clear separation of the determination of profits in the first and second stages are also discussed. The text deals with various aspects of tax accounting. It addresses the distribution norm of § 4f EStG for tax accounting burdens, profit adjustments for the acquiring entity, the deduction prohibitions of § 8 Tax Haven Defense Act, and other regulations. Furthermore, the elimination of the mirror image method in the accounting of interests in partnerships is discussed. The text concludes with an outlook on a possible internal
- Subjects
UKRAINE; TAX laws; ACCOUNTING; INCOME tax laws; TAX accounting; ALTERNATIVE minimum tax; COVID-19 pandemic; FINANCIAL statements; INTERNATIONAL Financial Reporting Standards; RUSSIAN invasion of Ukraine, 2022-; DEPRECIATION; ACCOUNTING standards; INTANGIBLE property
- Publication
FinanzRundschau, 2022, Vol 104, Issue 20, p917
- ISSN
2567-4765
- Publication type
Article
- DOI
10.9785/fr-2022-1042002