Global Tax Accounting Services Newsletter (January-March 2014)

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Tax accounting insights 04/30/2014 by Tax accounting services
Global Tax Accounting Services Newsletter (January–March 2014)

At a glance

In this release we discuss a variety of global accounting, reporting and tax law developments in the first quarter of 2014, and the related tax accounting considerations.

 In this release we provide an update on a variety of accounting and reporting developments, including:

  • country-by-country reporting
  • auditor rotation proposals in the European Union
  • an accounting alternative for non-public entities in relation to goodwill; and
  • the International Financial Reporting Standards (IFRS) Interpretation Committee’s guidance on some tax related matters

We also draw your attention to some significant tax law and tax rate changes that occurred around the globe during the quarter ended 31 March 2014.

Finally, we highlight some similarities and differences for income tax accounting under IFRS and US Generally Accepted Accounting Principles (US GAAP), and provide guidance on when tax law changes should be accounted for under these frameworks.