Text file: 7456.txt
author: Jolly123
downvotes: 3
end consideration date: 2016-05-03
id: '7456'
number comments: 1
number views: 3466
proposal type: Competent authority response
response: "Response from the Ministry of Finance\nArticle 12 of the Law on Corporate\
  \ Income Tax (Official Gazette of the Republic of Slovenia, No.117/06 et seq., hereinafter\
  \ referred to as ZDDPO-2) generally provides that income/profit tax is payable on\
  \ the basis of the income and expenses as stated in the profit and loss account\
  \ or in the annual report corresponding to the profit and loss account, as the case\
  \ may be. Income, expenditure and profit or loss are determined on the basis of\
  \ ITA-2 and in accordance with accounting standards.\nThis provision represents\
  \ a certain simplification for the taxpayer, as the taxpayer does not have to keep\
  \ double books, i.e. for business purposes according to the accounting rules and\
  \ for tax purposes according to the tax rules.\nWe would also add that accounting\
  \ standards are rules of the profession which further elaborate and clarify the\
  \ accounting requirements and also determine how they should be applied. One of\
  \ the fundamental accounting assumptions is the accrual basis, which means that\
  \ transactions are recognised when they occur and not only when they are paid for.\n\
  \ "
response date: 2017-01-03
response due date: null
sent date: 2016-04-04
title: Paying tax on profits after realisation
upvotes: 11
url: https://predlagam.vladi.si/predlog/7456
