Uncertain tax positions – becoming more certain?

IFRIC has issued a draft interpretation, Uncertainty over Income Tax Treatments, with comments to be received by January 19, 2016 An uncertain tax treatment for purposes of the draft interpretation is one where uncertainty exists “over whether the taxation authority will accept a specific tax treatment under the tax law,” for example where the acceptability…

Recognizing deferred tax assets – convincing evidence?

A European example of the difficulty of recognizing a deferred tax asset for unused tax losses Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer is a commercial bank. In the consolidated IFRS financial statements for…