14 research outputs found
Aligning taxation and international financial reporting standards: Evidence from Italian listed companies
We estimate the effect of adopting International Financial Reporting Standards results (IFRS) as the base for the regional business tax (IRAP). Analysing the unconsolidated financial statements of non-financial Italian listed companies, we simulate the change in the IRAP base where companies move from Italian Generally Accepted Accounting Principles (GAAP) to IFRS. The results show that the impact of the use of IFRS for the computation of tax figures is relatively important and that the sector in which companies operate has a decisive influence on the amount by which the taxable base differs. The empirical analysis suggests that the transition increases, on average, the IRAP base of around 15% and that companies in the constructions and utilities sectors suffer an additional burden of around 29% and 31%, respectively. Similarly to Italy, many European Member States are characterized by creditor protection oriented domestic GAAP and by a close link between tax and financial reporting and could therefore experience similar effects due to the use of a IFRS-based tax accounting.We estimate the effect of adopting International Financial Reporting Standards results (IFRS) as the base for the regional business tax (IRAP). Analysing the unconsolidated financial statements of non-financial Italian listed companies, we simulate the change in the IRAP base where companies move from Italian Generally Accepted Accounting Principles (GAAP) to IFRS. The results show that the impact of the use of IFRS for the computation of tax figures is relatively important and that the sector in which companies operate has a decisive influence on the amount by which the taxable base differs. The empirical analysis suggests that the transition increases, on average, the IRAP base of around 15% and that companies in the constructions and utilities sectors suffer an additional burden of around 29% and 31%, respectively. Similarly to Italy, many European Member States are characterized by creditor protection oriented domestic GAAP and by a close link between tax and financial reporting and could therefore experience similar effects due to the use of a IFRS-based tax accounting
Theories for influencer identification in complex networks
In social and biological systems, the structural heterogeneity of interaction
networks gives rise to the emergence of a small set of influential nodes, or
influencers, in a series of dynamical processes. Although much smaller than the
entire network, these influencers were observed to be able to shape the
collective dynamics of large populations in different contexts. As such, the
successful identification of influencers should have profound implications in
various real-world spreading dynamics such as viral marketing, epidemic
outbreaks and cascading failure. In this chapter, we first summarize the
centrality-based approach in finding single influencers in complex networks,
and then discuss the more complicated problem of locating multiple influencers
from a collective point of view. Progress rooted in collective influence
theory, belief-propagation and computer science will be presented. Finally, we
present some applications of influencer identification in diverse real-world
systems, including online social platforms, scientific publication, brain
networks and socioeconomic systems.Comment: 24 pages, 6 figure
Tactical transfers in a federal institutional setting
One of the main aim of political economy is to understand how income redistribution is determined. In the paper tactical redistribution, through which parties aim at maximizing the share of votes obtained in an election, is analyzed in a federal institutional setting, where different levels of government coexist. Dixit and Londregan (1996)'s model is taken as a starting point; their model is extended in order to allow the analysis of the interactions between the various government levels. Four institutional settings are considered, entailing different rules and a different degree of decentralization in the policy and transfer determination process: fully localized and fully centralized governments, federal government with transfers among regions and federal government with transfers among social groups
IFRS Adoption in the E.U., Accounting Harmonisation and Market Efficiency: A Review
As of 1st January 2005 all European listed companies had to adopt IAS/IFRS in order to prepare their consolidated financial statements. Half a decade later, the paper analyzes the advancements in the accounting harmonization process within European countries and between E.U. and the rest of the world, over-viewing the first available evidence on the effects on financial markets efficiency. The paper aims at providing an updated description of the process of IFRS adoption in the E.U., pointing out the positive aspects and the main drawbacks and reviews the major contribution provided by the literature during the last years on this subject
Evolving Connections between Tax and Financial Reporting in Italy, Quaderni di Ricerca 2010/1, Dipartimento di Economia, Universit\ue0 degli Studi dell\u2019Insubria
We analyze 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). Among European countries, Italy represents an interesting case study because IFRS have become mandatory, for listed companies, also as 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 a high degree of disconnection, while Italian Gaap, in line with a continental European accounting tradition, are closely related to tax rules. The analysis will point out a rapidly evolving situation, with links between both accounting systems (IFRS and Italian Gaap) and taxation
getting tighter as a consequence of the tax reforms of the last few
years
Evolving Connections between Tax and Financial Reporting in Italy
We analyze 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). Among European countries, Italy represents an interesting case study because IFRS have become mandatory, for listed companies, also as 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 a high degree of disconnection, while Italian Gaap, in line with a continental European accounting tradition, are closely related to tax rules. The analysis will point out a rapidly evolving situation, with links between both accounting systems (IFRS and Italian Gaap) and taxation
getting tighter as a consequence of the tax reforms of the last few
years
Evolving Connections between Tax and Financial Reporting in Italy, Quaderni di ricerca 2010/01, Dipartimento di Economia, Universit\ue0 degli studi dell'Insubria
We analyze 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). Among European countries, Italy represents an interesting case study because IFRS have become mandatory, for listed companies, also as 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 a high degree of disconnection, while Italian Gaap, in line with a continental European accounting tradition, are closely related to tax rules. The analysis will point out a rapidly evolving situation, with links between both accounting systems (IFRS and Italian Gaap) and taxation
getting tighter as a consequence of the tax reforms of the last few
years
Evolving Connections between Tax and Financial Reporting in Italy, Quaderni di Ricerca 2010/1, Dipartimento di Economia, Università degli Studi dell’Insubria
We analyze 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). Among European countries, Italy represents an interesting case study because IFRS have become mandatory, for listed companies, also as 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 a high degree of disconnection, while Italian Gaap, in line with a continental European accounting tradition, are closely related to tax rules. The analysis will point out a rapidly evolving situation, with links between both accounting systems (IFRS and Italian Gaap) and taxation
getting tighter as a consequence of the tax reforms of the last few
years