On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.
In this release, an update is provided on a variety of accounting and reporting developments, including: country-by-country reporting the OECD project on hybrid mismatch arrangements, and the new converged standard on revenue recognition recently issued by the Financial Accounting Standards Board and International Accounting Standards Board Your attention is also drawn to some significant tax
On 30 January 2014, the Organisation for Economic Cooperation and Development (OECD) released a discussion draft on transfer pricing documentation and country-by-country reporting (CBCR) which included a template for reporting of income, taxes, and economic activity (CBCR template). The purpose of the CBCR template is to provide tax authorities with the information necessary to conduct
In this Global Tax Accounting Services Newsletter an update is provided on a variety of accounting and reporting developments
Accounting- and reporting-related updates Revised exposure draft on leases IFRIC 21 Levies Tax transparency and country-by-country reporting FASB ratifies consensus on netting unrecognised tax benefits against loss or other tax carryforward assets Recent and upcoming major tax law changes and the tax accounting implications Some tax rate changes Other important considerations in tax law changes