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