Introduction to Tax Link
Welcome to the Spring edition of Tax Link.
This edition is a combination of globally sourced articles contributed by the member firms across the Nexia network, that provide up to date information on areas of the industry that have moved quickly and gained traction with other articles providing a review of national and international legislation, policy change and how it can affect businesses and individuals. The articles in this edition include Australia’s ‘High Court decisions to tax residency of a company’, Swiss relaxation in procedure towards ‘withholding tax’, the United states’ advice to your ‘tax planning toolkit’ and information on ‘Federal reform’.
I must extend a huge thank you to all of the contributors and publication team for their articles and commitment in producing this publication. If you would like any further information on the topics in this edition, the contributor’s details are provided for each article and they are happy to give further detail.
Notes on the consolidated financial statements
The notes to IFRS consolidated financial statements prepared in the EU must contain disclosures on newly adopted standards and interpretations (IAS 8.28) as well as on standards and interpretations that have been issued but not yet adopted (IAS 8.30). Read more… IASB The IASB published amendments to IFRS 2 “Sharebased payment” on 20 June 2016. These include clarifications
on individual questions concerning the accounting and measurement of cash-settled sharebased payment transactions. Read more… EU Endorsement On 25 November 2016, the EU Commission announced the adoption of IFRS 9 into EU law. The announcement in the Official Journal was made on 29 November 2016. Read more… ESMA The European Securities and Markets Authority (ESMA) has published its annual Public Statement on European Common Enforcement Priorities (the Statement) which identifies enforcement priorities for listed companies’ 2016 financial statements and highlights the need for transparency in disclosing the potential impact of Brexit on issuers’ financial statements.