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| Author: | Kager, R. Schanz, D. Niemann, R. |
| Title: | Estimation of tax values based on IFRS information: an analysis of German DAX30 and Austrian ATX listed companies |
| Journal: | Accounting in Europe
2011 : VOL 8:1-2, p. 89-123 |
| Index terms: | accounting standards reporting financial statements information taxation listed companies Austria Germany |
| Language: | eng |
| Abstract: | This study analyses whether tax balance sheets can be reconstructed using tax information provided by consolidated IFRS accounts. The study's results suggest that, as to DAX30 firms, the most important differences btw. IFRS and tax reporting focus on intangibles and provisions. For ATX companies, the main cause for IFRS-tax differences are diverging IFRS and tax rules relating to fixed assets and provisions. There is found evidence of book values reported in IFRS balance sheets being generally higher than tax values. Only in connection with inventories, it is found that the median of estimated tax values is higher than IFRS-book value for both Austrian and German groups. The analyses show that estimated values of tax losses often do not differ notably from the actual stock of tax losses. It is concluded that, particularly for multinationals, reconstructed tax balance sheets should be critically scrutinized. |
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