Accounting and tax aspects of the International Accounting Standard No. 23 Costs for Loans, in commercial companies of Paraguay, Period 2018

Abstract

This paper analyzes the link between Decree 6359/2005, Decree 1030/2013 and IAS 23 regarding financing interests in commercial companies. The methodology consisted of: the approach was quantitative, the scope was descriptive and explanatory, the design was non-experimental crosssectional, the type of research was bibliographic and documentary exercises with simulation of accounting entries, the processing of the exercises was made Microsoft Excel (2016). The main results were: Interest due affects net worth, interest paid to the income statement and also net worth, interest VAT is closely related to the IRACIS and both have a significant impact on the company’s equity. The main conclusions were: Interest on Loans accounted for under IAS 23 is directly linked to the IRACIS affected by Decree 6539/2005 and VAT by Decree 1030/2013 on the deductibility of said taxes.