MyCIMA

Income Tax

Replies : 0

The UK Accounting Standards Board and the European Financial Reporting Advisory Group have published a paper in order to solicit views on how the financial reporting of income tax could be improved.  In particular, the paper discusses tax reconciliations, uncertain tax positions, discounting of deferred tax and the following bases of tax accounting: flow-through, partial allocation, valuation adjustment and accruals.

The consultation paper is open for comment until 29 June 2012.