January 2021

Closed form solution for the valuation of deferred tax assets

Deferred tax asset (DTA) is a tax/accounting concept that refers to an asset that may be used to reduce future tax liabilities of the holder. In the banking sector, it usually refers to situations where a bank has either overpaid taxes, paid taxes in advance or has carry-over of losses (the latter being the most common situation). In fact, accounting and tax losses may be used to shield future profits from taxation,...

Author(s): João Marques Silva, Nuno Souto and José Azevedo Pereira

January 2021

Internal audit as an optimization tool for educational monitoring organizations

Organizations that oversee education institutes contribute to the quality of education. Audit as a tool can support the optimization of processes for these organizations. However, literature was scarce regarding audit in educational monitoring organizations. This research attempts to understand the position that audit holds in educational monitoring and how it optimizes their processes. A questionnaire based on audit...

Author(s): Lazos Grigoris, Karagiorgos Alkiviadis, Stavropoulos Antonios, Karagiorgou Dimitra and Hatzakis Nikos

January 2021

Greek tax reality and the VAT gap: Influential factors

The value added tax gap (VAT gap) is a notable indicator of tax evasion, tax avoidance and overall inefficiency within the tax system. As the VAT gap in Greece is one of the largest in the European Union (EU), an attempt to quantify and analyze it was made. In order to achieve that, social, economic, fiscal and tax factors were examined based on international literature, since there is very little relevant research in...

Author(s): Eriotis Nikolaos, Missiakoulis Spyros, Papadakis Spyros and Vasiliou Dimitrios

January 2021

Tax-free synthetic cash for individuals: A theoretical review of the Swiss case

Synthetic cash, which is a pure product of financial engineering, can be defined as a combination of financial instruments that provide (before tax) a performance equal to that of a traditional monetary deposit but without the use of a debt or interest payment instrument. This article discusses the taxation of synthetic cash in Switzerland and shows that synthetic cash can generate tax-free income when adequately...

Author(s): François-Serge Lhabitant,