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on Accounting and Auditing |
| By: | Spindler, Lena; Hacker, Bernd |
| Abstract: | This study provides an empirical analysis of deferred tax accounting under IFRS (IAS12), focusing on international and sectoral diversity within the eurozone. While IFRS aims for uniform accounting standards, prior research suggests that national tax, legal, and cultural contexts significantly influence its application. This paper investigates whether such country-specific influences extend to deferred tax accounting. Using a sample of 1, 240 companies from the ten largest eurozone economies, the study analyzes consolidated financial statements for the 2024 fiscal year. Key metrics, including the absolute values of deferred tax assets and liabilities and their ratios to total assets, are compared across countries and industries. The findings reveal substantial heterogeneity. Absolute deferred tax positions are concentrated in the largest economies (Germany, France), but relative significance varies, with countries like Spain and Ireland showing higher proportions relative to total assets. At the industry level, capital-intensive and innovation-driven sectors (e.g., automotive, pharmaceuticals) exhibit distinct patterns. Furthermore, a strong positive correlation between deferred tax assets and liabilities exists in most sectors, indicating common underlying accounting and tax factors. The results confirm that, despite a unified standard, deferred tax reporting is shaped by national economic strength, industry affiliation, and local accounting practices, highlighting the need for a differentiated, relative-key-figure approach when comparing such positions internationally. This working paper is based on the thesis of Lena Spindler. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rpaebs:340166 |
| By: | Xincheng Qiu; Nicolo Russo |
| Abstract: | This paper examines income tax systems in over thirty countries over the past forty years using microdata from the Luxembourg Income Study. We show that income tax systems worldwide are well approximated by a two-parameter log-linear effective tax function. We provide country- and year-specific estimates and document several insights. First, higher average tax rates are associated with higher progressivity. Second, richer countries have more progressive tax systems. Third, progressivity varies by family structure, with marriage and children associated with higher progressivity. Finally, transfers play an important role in redistribution, making the overall tax-and-transfer function more progressive than the tax function. |
| Keywords: | Taxation, Income tax progressivity, Family structure |
| JEL: | E62 H20 H30 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:crm:wpaper:26090 |
| By: | Juan Pablo Cova; Daniela Muñoz; Camilo Poblete; Claudio Sandoval |
| Abstract: | This document provides a historical review of the statistics and context that shape the evolution of the balance sheet of the Central Bank of Chile (CBC) in its centennial year, covering the period from 1925 to 2024. The document is organized into five macro-periods defined by the main changes in its legal framework, and examines the evolution of the Bank’s assets and liabilities and their relationship with the prevailing mandate, its degree of autonomy, and the available policy tools. The analysis spans from its initial role as an issuing authority under the gold standard to its current configuration as an autonomous central bank with an inflation-targeting regime and a floating exchange rate. Throughout the document, the main economic, financial, and regulatory milestones that have influenced the structure of the CBC’s balance sheet are described, including episodes of crisis, institutional reforms, and modernization processes. It also provides a detailed analysis of the set of measures adopted between 2019 and 2024 in response to extraordinary events—the 2019 social unrest and the economic crisis resulting from the COVID-19 pandemic—examining their impact on the balance sheet, as well as the subsequent normalization process following these events. The study concludes by highlighting the institutional evolution of the Central Bank toward an autonomous entity, with a balance sheet aligned with its policy objectives and a strong capacity to respond to complex scenarios. The international comparison, including during the pandemic, reinforces this view, showing convergence with the practices of central banks in advanced economies. |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:chb:bcchee:146 |