Accounting for investments in other entities in separate FS (CAL May 2015)
Investments in other entities would include investments in subsidiaries, associates and joint ventures. Under PAS 27 – Separate Financial Statements (FS), the current applicable standard, these investments should be accounted for atcost, or in accordance with PFRS 9, as long as an entity would apply the same accounting for each category of investments.
ITRs not required in CWT Refunds (Taxwise, 25 June 2015)
The burden of proof to establish entitlement to a refund lies with the claimant, who must positively show compliance with the statutory requirements provided under the Tax Code. d.