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Five Ways a Conversion to International Financial Reporting Standards Could Impact a Global Tax Structure


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The movement toward International Financial Reporting Standards (IFRS) as a single set of globally accepted accounting standards is quickly gathering momentum. 

A new report in the IFRS for Tax series, "Five Ways a Conversion to International Financial Reporting Standards Could Impact a Global Tax Structure," discusses structural tax planning in connection with IFRS conversions. This article highlights five important ways in which the movement to IFRS could have an impact on a global tax structure, including:

  • Elimination of Financial Accounting Standard (FAS) 109, paragraph 9(e) and its impact on tax planning for high-value intangibles
  • Impact of potential changes to the definition of debt and equity on recognition of currency fluctuations
  • Conversion to IFRS and the impact on recognition of the Cumulative Translation Account
  • IFRS and the potential for greater use of shared services centers
  • IFRS as a springboard for entity rationalization

Download the full report at the bottom of the page to learn more.

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