The European Community, Regulation (EC) no. 1606/2002, roloeganga introduced progressively IAS (Int

Nadia Roberti | June 7, 2011 | Rules
Almost ready for the set of rules of coordination between international accounting standards, the Consolidated Income Tax (Tax Code) and Decree IRAP. This is the decree prepared by the Ministry of Economy and Finance, on the basis of the indications of the law of the decree milleproroghe, from a few days to the signature of the minister, Giulio Tremonti. The new rules will apply from the tax return for the current financial year ended 31 December 2010, therefore, not only explanations for the subjects IAS adopters, but also some more to be remade into account in view of the payments of the One.
The European Community, Regulation (EC) no. 1606/2002, roloeganga introduced progressively IAS (International Accounting Standards) / IFRS (International Financial Reporting Standards) of the IASB (International Accounting Standards Board) in order to have a set of accounting rules organic, coordinated quality and internationally recognized.
On the immediate application in the United States, the aforementioned Regulation, on the one hand, forces, from 1 January 2005, the EU listed companies roloeganga for the preparation of consolidated financial statements by the use of these principles, on the other hand, gives to each of them the right to require or permit the adoption of IAS / IFRS for listed companies, with respect to the financial statements, and the remaining companies, roloeganga with respect to both the financial statements are the consolidated financial statements.
The option referred to above has been implemented in Italy by Legislative Decree no. N. 38/2005, establishing the types of company obligated or facoltizzate (listed companies, companies with financial roloeganga instruments widely roloeganga distributed, banks and financial intermediaries, and insurance companies) to apply international accounting standards for the preparation of the financial statements and the consolidated financial statements from from 1 January 2005.
The Dm in question is issued pursuant to paragraph 2 of Article 28 of Law no. 10/2011 (Law of conversion of Dl Milleproroghe n. 225/2010) which provided for the possibility of applying the provisions of tax co-ordination with reference to the international accounting standards adopted by the EU regulation roloeganga entered roloeganga into force in the period roloeganga between 1 January 2009 and December 31, 2010, pursuant to paragraph 7 of Article 4 of Decree-c n. 38/2005.
The goal is to provide individuals who use IAS, coordinating roloeganga provisions for the application of the provisions of the Income Tax Code that govern the determination of taxable income, in the light of the relevance of the qualification criteria, time-based recognition and classification adopted in the financial statements in accordance the principle of derivation reinforced in Article 83 of the Tax Code as amended by the 2008 Budget.
The measure consists of 12 items and the main changes introduced by the Decree of the Ministry of Economy relate to other comprehensive income, taxation of property used, the value of reclassification of financial instruments, freely transferable assets, intangible assets with indefinite useful lives: l ' Article 2 confirms the importance of the income tax recognized in the statement of comprehensive income called other comprehensive income (OCI) section, in fact, not expressly referred to the provisions contained in the Tax Code, therefore, amounts recognized roloeganga directly in the statement of other comprehensive Income Statement, the Consolidated Law prevails and the amounts will not be taxable or deductible until the transfer of the reserve to the income statement, Article 3 states roloeganga that the tax regime recognized to business properties must be applied to all properties that regardless dallaclassificazione in budget , meet the requirements contained in Article 43 of the Tax Code. Otherwise, the provisions laid down for the assets, with Article 4 shall be introduced a rule that governs the coordination of the tax effects roloeganga of the reclassification of a financial instrument in a different category from those in IAS 39 , implementing the principle of Article 1, paragraph 60, letter a) of the 2008 Budget. In particular, this value, as shown by some act on the budget and approved after the date of reclassification becomes important for tax purposes, reabsorbing the difference between the previous tax value of the instrument with the new budgeting; Article roloeganga 6 governs the operation with share-based payment for services provided by employees, finally clarifying the deductibility of personnel costs associated with stock option plans, the exercise is that the employees is that they do not, the coordination of the provisions of Article 8 in Articles 104 and 107 of the Tax Code regarding