ACCOUNTING AND TAX COMPLEXITIES IN MANAGING TOURISM BUSINESSES

Abstract

The purpose of this study is to analyze how accounting and tax changes recently introduced in Portugal affect the particular situation of tourism and hospitality management sectors. Firms operating in such areas of economic activity have important specific characteristics, such as a high proportion of tangible assets (buildings, land, leisure facilities) and also intangibles (goodwill derived from acquisitions, trade marks). The new accounting and tax environment significantly increased challenges managers have to face when making decisions and reporting their results.