European Integration - Realities and Perspectives. Proceedings 2019
The Impact of Applying IFRS on the
Accounting-Taxation Rapport, At European Union Level
Maria Virginia Stancu (Catana)1
Abstract: The taxation gets attention of entities regardless the applicable accounting system. It has been
developed and is still widely developed by legislative provisions, rules, regulations and guidelines often
difficult applicable i n practice, through countless changes, new releases of taxes, new bases of calculation
whose foundation must meet financial and budgetary policy of the executive. The tax system in Romania, in
recent years, has undergone many unpredictable and often controversial changes, which influenced both
accounting and business.
Keywords: IFRS; accounting result; fiscal result; the CCCTB; accounting treatment; compared Accounting –
JEL Classification: E62; G32
1. Proposals from the European Union
The financial reports of general interest are part of the financial reporting process and are regulated at
European level by the directives on individual and consolidated annual accounts, but also by the
directive on the conditions of authorization of persons performing financial statement audit.
International Financial Reporting Standards, Conceptual framework and international provisions just
aim to establish concepts that underlie the preparation and presentation of financial statements for users.
If the value added tax and excise tax base are determined in detail by the European Directives which
have been transposed into Romanian tax law, there is not a common basis for entity tax on direct taxes.
However, during the closing of EU accession negotiations, all states have committed that they will not
introduce national legislation on direct taxes only those tax provisions that are in accordance with the
Code of Conduct for Business Taxation.2
Due to the fact that the principles of determining the profit are not clearly defined at the international
level, there was approved at the level of the member of the States a Plan of activity of a group of experts
appointed as the Working Group for the creation of a common consolidated tax base of companies.
The Common Consolidated Corporate Tax Base-CCCTB is a system according to which multinational
entities would lead to a consolidated basis of the amount of taxable income. The concrete actions for the
construction of this system began at the ECOFIN Council in 2004, when most of the Member States
1 PhD in progress, Valahia University Târgovişte, Romania, Address: Bulevardul Regele Carol I 2, Târgoviște 130024,
Romania, Tel.: 0245 206 101, Corresponding author: email@example.com.
2 It was adopted on 1 December 1997, the EU Council and a set of fiscal rules to combat unfair tax competition, is not a legally