Transcription of IFRS Viewpoint - grantthornton.global
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Potential accounting consequences of the US tax reform for ifrs preparersIFRS ViewpointGlobalAccountingTa xRelevant IFRSIAS 1 Presentation of Financial StatementsIAS 8 Accounting Policies, Changes in Accounting Estimates and ErrorsIAS 12 Income TaxesIFRIC 23 Uncertainty over Income Tax TreatmentsOur ifrs Viewpoint series provides insights from our global ifrs Team on applying IFRSs in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack s the issue?On 22 December 2017, the President of the United States (US) signed into law the Tax Cuts and Jobs Act (Act). The Act is a sweeping reform of US taxation which is likely to have a significant impact on financial statements prepared under ifrs for entities with US operations.
Topic Base Erosion Anti-Abuse Tax (BEAT) Global Intangible Low-Taxed Income (GILTI) Foreign-derived intangible income (FDII) Replacement of a worldwide system
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Action Plan, Base erosion and profit shifting, Background, Taxation Neutralising Base Erosion and Profit, Taxation Neutralising Base Erosion and Profit Shifting, ADDRESSING BASE EROSION AND PROFIT, ADDRESSING BASE EROSION AND PROFIT SHIFTING, DAVIS TAX COMMITTEE, Permanent establishments, Explanatory statement, Notifies the much awaited revised Safe