Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.
23 October 2015
kpmg.com/ifrs
Uncertainty over
income tax
treatments
Draft IFRIC aims to
reduce diversity
1© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
2© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
3© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
4© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
5© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
6© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
7© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
8© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
9© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member f...
10© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member ...
11© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member ...
12© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member ...
13© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member ...
14© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member ...
© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member
fi...
Prochain SlideShare
Chargement dans…5
×

Uncertainty over income tax treatments

9 769 vues

Publié le

A new draft IFRIC seeks to clarify the accounting for income tax treatments that have yet to be accepted by tax authorities, whilst also aiming to enhance transparency. These slides take you through the draft IFRIC’s proposals.

The impact of the proposals will depend on your current accounting. If you want to discuss the possible impacts, please speak with your usual KPMG contact.

Publié dans : Économie & finance, Formation
  • Unlock Her Legs - How to Turn a Girl On In 10 Minutes or Less...  https://tinyurl.com/y52uv4vq
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici
  • If you want a girl to "chase" you, then you have to use the right "bait". We discovered 4 specific things that FORCE a girl to chase after you and try to win YOU over. copy and visiting...  https://tinyurl.com/y52uv4vq
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici
  • Nice !! Download 100 % Free Ebooks, PPts, Study Notes, Novels, etc @ https://www.ThesisScientist.com
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici
  • Hi there! Essay Help For Students | Discount 10% for your first order! - Check our website! https://vk.cc/80SakO
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici
  • Nice !! Download 100 % Free Ebooks, PPts, Study Notes, Novels, etc @ https://www.ThesisScientist.com
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici

Uncertainty over income tax treatments

  1. 1. 23 October 2015 kpmg.com/ifrs Uncertainty over income tax treatments Draft IFRIC aims to reduce diversity
  2. 2. 1© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. A new draft IFRIC seeks to clarify the accounting for income tax treatments that have yet to be accepted by tax authorities, whilst also aiming to enhance transparency. The impact of the proposals will depend on your current accounting. While we welcome the greater clarity and transparency, this is a sensitive issue that has generated much controversy. We urge you to read the proposals and participate in the debate. Reflecting tax uncertainty in financial statements Sanel Tomlinson KPMG’s global IFRS income taxes leader
  3. 3. 2© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. What’s the issue? So how do you reflect uncertainty in accounting for income tax? Tax is a sensitive topic, triggering debate about tax transparency both within and beyond the board room Tax
  4. 4. 3© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The proposals 1
  5. 5. 4© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The proposals Whose perspective? Users of financial statements Tax authorities The proposals focus on…
  6. 6. 5© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The proposals When would you provide for uncertainty? No: Yes: = ≠ Assume that the tax authority would have full knowledge of all relevant information Is it probable that the tax authority would accept the treatment?
  7. 7. 6© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The proposals How would you measure uncertainty? If it’s not probable that the tax authority would accept the treatment, reflect that uncertainty using… the expected value …whichever provides a better prediction the most likely amount or
  8. 8. 7© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The proposals What happens later on? Specific guidance would be applied, based on… new evidence such as inspections, court cases, clarifications If circumstances change, you’d need to update the amount in the financial statements the time limit for tax inspections
  9. 9. 8© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The impacts Accounting and disclosures2
  10. 10. 9© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The impacts Accounting Depending on your current accounting and jurisdiction… Tax inspections may not give visibility It may be more complex to estimate the amount of income tax if various taxes are assessed together Your current practice may change You may need to increase the tax liability or recognise an asset. The timing of derecognition may also change
  11. 11. 10© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Users may expect more meaningful disclosures about… …albeit under existing disclosure requirements Judgements made Potential impact of uncertainties not reflected Assumptions and other estimates used The impacts Disclosures
  12. 12. 11© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Transition options and timeline 3
  13. 13. 12© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. What are the proposed transition options? 1 January 20X6 Start of comparative period 1 January 20X7 Start of year of initial application You would have a choice between: on initial application, adjusting equity without adjusting comparative information retrospective application under IAS 8 or
  14. 14. 13© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 21 October 2015 IFRS IC proposals issued 19 January 2016 Comment deadline Effective date To be determined Timeline
  15. 15. 14© 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Next steps Read the proposals Talk to your tax specialists and advisers Comment on the proposals by 19 January 2016
  16. 16. © 2015 KPMG IFRG Limited, a UK company limited by guarantee and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. kpmg.com/appkpmg.com/socialmedia

×