by pieter@pvdz.co.za | Jul 26, 2023 | Assets, Liabilities, Presentation and disclosure, Tax
The OECD/G20 developed Global Anti-Base Erosion (‘GloBE’) model rules in Pillar Two of BEPS 2.0 to address shortcomings in the current international tax system. These rules essentially aim to tax the profits of large multinationals at a minimum rate. The...
by pieter@pvdz.co.za | Oct 18, 2020 | Assets, Tax
Entities may find themselves in a position where they had tax losses due to the weak economic conditions, even before the COVID-19 pandemic. In many instances the effect of the lockdown and resulting regulations have exacerbated this. In addition, some normally...
by pieter@pvdz.co.za | Jul 18, 2020 | Liabilities, Tax
Deferred tax reflects the future tax consequences that will arise when the economic benefits associated with assets are realised or of outflows when liabilities are settled. The IFRS Interpretations Committee (‘IFRIC’) recently considered how to determine the...
