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The Timing of Income Recognition in Tax Law and the Time Value of Money
Af: Moshe Shekel Engelsk Paperback
SPAR
kr 73
The Timing of Income Recognition in Tax Law and the Time Value of Money
Af: Moshe Shekel Engelsk Paperback

Time itself creates advantages and disadvantages in the field of taxation. The timing of the recognition of income and expenses for tax purposes has two main implications: firstly, for the timing of the collection of tax, and secondly, for the question of quantification, i.e., how to ensure that the difference between the timing of the recognition of income or expenses, as opposed to the respective dates on which the amounts are actually received or paid, does not distort the determination of the amount of chargeable income.

The time component is a weapon in the confrontation between the opposing motivations of the taxpayers and the tax authorities. In any given fiscal year, taxpayers seek to present a minimal picture of their chargeable income, by "deferring" the recognition of income or "advancing" the recognition of expenses. As opposed to this, the tax authorities adopt the opposite strategy: maximizing taxable "profit" in any given year.

This book critically examines the various approaches that have been adopted in the tax systems in the UK, the US and Israel in relation to the timing of income recognition and expenses for tax purposes. It suggests an innovative tax model that identifies the advantages that arise to the taxpayer as a result of the differences between the timing of the recognition of income and expenses, and the timing of the receipt of the revenue or the payment of a liability, and taxes only that advantage.

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Time itself creates advantages and disadvantages in the field of taxation. The timing of the recognition of income and expenses for tax purposes has two main implications: firstly, for the timing of the collection of tax, and secondly, for the question of quantification, i.e., how to ensure that the difference between the timing of the recognition of income or expenses, as opposed to the respective dates on which the amounts are actually received or paid, does not distort the determination of the amount of chargeable income.

The time component is a weapon in the confrontation between the opposing motivations of the taxpayers and the tax authorities. In any given fiscal year, taxpayers seek to present a minimal picture of their chargeable income, by "deferring" the recognition of income or "advancing" the recognition of expenses. As opposed to this, the tax authorities adopt the opposite strategy: maximizing taxable "profit" in any given year.

This book critically examines the various approaches that have been adopted in the tax systems in the UK, the US and Israel in relation to the timing of income recognition and expenses for tax purposes. It suggests an innovative tax model that identifies the advantages that arise to the taxpayer as a result of the differences between the timing of the recognition of income and expenses, and the timing of the receipt of the revenue or the payment of a liability, and taxes only that advantage.

Produktdetaljer
Sprog: Engelsk
Sider: 334
ISBN-13: 9780415631631
Indbinding: Paperback
Udgave:
ISBN-10: 0415631637
Udg. Dato: 1 maj 2012
Længde: 20mm
Bredde: 232mm
Højde: 156mm
Oplagsdato: 1 maj 2012
Forfatter(e): Moshe Shekel
Forfatter(e) Moshe Shekel


Kategori Offentlige finansregnskaber


Sprog Engelsk


Indbinding Paperback


Sider 334


Udgave


Længde 20mm


Bredde 232mm


Højde 156mm


Udg. Dato 1 maj 2012


Oplagsdato 1 maj 2012

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