The expected effects of the application of "International Financial Reporting Standards (IFRS)" in determining the "tax base"
DOI:
https://doi.org/10.31150/ajebm.v7i7.2857Keywords:
The expected effects, International Financial Reporting Standards, Tax BaseAbstract
The research aims to indicate the implications of the application of "International Financial Reporting and Accounting Standards in determining the tax base", by identifying some theoretical and conceptual aspects related to the International Financial Reporting and Accounting Standards and tax systems in Iraq. The research was based on two main hypotheses. The first is the impact of the application of "International Financial Reporting Standards (IFRS) " in determining the tax base through useful accounting information and transparency of disclosure. The second hypothesis was the impact of the application of "International Financial Reporting Standards (IFRS) " in determining the "tax base" by adapting tax systems to the requirements of "International Financial Reporting Standards" and reducing the differences between them. In order to achieve the objectives pursued by the research, the two researchers conducted a field study through a questionnaire for the opinions of a sample of accountants, assessors and specialists working in the General Tax Authority and a sample of experienced and professional professors and academics, in order to test the validity of hypotheses. The two researchers reached a set of results, the most important of which is that the adaptation of local standards to international accounting and financial reporting standards, especially standards related to income taxes (AIS12), can be reflected positively in attracting foreign investments, which are reflected positively in achieving tax returns adopted as a source of funding for the state's general budget. The two researchers recommended a set of recommendations, the most important of which is the need to adopt the application of international accounting and financial reporting standards, especially accounting standard 12 income taxes, to contribute to increasing revenues in order to diversify revenues in the Iraqi state
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