IFRS 16 – Leases Standard
The International Accounting Standards Board (‘IASB’) announced a new leasing standard that will come into effect on 1 January 2019 (earlier application permitted for accounting periods ending on or after 1 January 2017). This new standard requires lessees to recognise nearly all leases– with an exemption for short-term and low-value asset leases – on the
Late filing of the annual accounts: firmer sanctions expected
Please be informed that the Government has announced strengthened sanctions in case of the late filing of annual accounts. In its policy document of 2 December 2014, aiming to combat tax fraud, the Government has announced its intention to take firmer action against companies that fail to file their annual accounts within the statutory time