As part of our series on accounting concerns in tax Paul McCartney in KPMG's Real Estate Tax Advisory group discusses the tax implications for property investment companies adopting IFRS
The widespread adoption of International Financial Reporting Standards (IFRS) will soon be taking place. For companies which have a choice of whether or not to adopt IFRS the effect of the revised reporting requirements on the profit recognition and therefore on the quantum and timing of tax payments should not be overlooked when considering whether or not to adopt IFRS. For companies that are required to adopt IFRS it is important that they understand the effect that this could have on their tax cash flows.
On 25 February 2004 the Inland Revenue published a Guidance Note entitled 'International Accounting...
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As part of our series on accounting concerns in tax Paul McCartney in KPMG's Real Estate Tax Advisory group discusses the tax implications for property investment companies adopting IFRS
The widespread adoption of International Financial Reporting Standards (IFRS) will soon be taking place. For companies which have a choice of whether or not to adopt IFRS the effect of the revised reporting requirements on the profit recognition and therefore on the quantum and timing of tax payments should not be overlooked when considering whether or not to adopt IFRS. For companies that are required to adopt IFRS it is important that they understand the effect that this could have on their tax cash flows.
On 25 February 2004 the Inland Revenue published a Guidance Note entitled 'International Accounting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
