Effect on the income tax of the standards for the preparation of the consolidated financial statements and of the General Accounting Plan reform

Abstract

This collaboration aims to outlining the most important tax consequences of the accounting reform being implemented by the Royal Decree 1159/2011 of 17 September.

Once again the close relationship between the Corporate Income Tax and Accounting Law is highlighted; this time in an area so complex as business combinations.

The article is divided into three areas: business combinations, related-party business combinations and consolidated accounts.

The article deals predominantly with taxes. Nevertheless, valuable comments can be found in this magazine´s pages with respect to accounting regulation.