Where am I considered as tax resident? The question of tax residency is the decisive factor of taxation. It determines both national and international taxing rights and thus defines in which country an individual must pay tax on their worldwide income.
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
Entities should begin preparing for IFRS 18 ‘Presentation and Disclosure in Financial Statements’ sooner rather than later. Changes from IAS 1 ‘Presentation of Financial Statements’ could have a significant impact on the financial statements.
Corporate INTL's annual awards recognise the world's leading advisors and financiers in a number of countries and continents around the world.
Income that is subject to income tax is generally assessed retrospectively. This article explains when a mandatory assessment must be carried out. You can also read an update on the employee assessment without application.
In this article we inform you about the current measures and developments concerning the deductions/limits of additional earnings as of 01.01.2023, the new regulations regarding the commuter allowance and reduced public transport ticket as of 01.01.2023, and new additional triggers of mandatory personal income tax returns.
With our Tax Compliance Calendar 2023, you can see the monthly filing deadlines for Tax and Payroll at a glance. Simply download the PDF & stay on top of things all year round.
Electric vehicles are becoming increasingly popular. In connection with the acquisition of a charging device and with regard to the charging of the vehicle, there are tax and contribution law aspects to consider from a company perspective.
Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas. We also include several examples illustrating the Standard’s requirements.
Understanding how an entity is performing from management’s point of view during an interim reporting period can be just as important as the annual disclosures that are required when following IFRS 8 ‘Operating Segments’ – which sets out the minimum disclosure requirements for annual reporting periods.
Segmental information is a way of increasing transparency in financial statements prepared for investors and creditors, especially for areas of the business that are significant and drive the entity’s overall business strategy. IFRS 8 ‘Operating Segments’ requires this information that is provided to management to be disclosed in the annual financial statements, so that investors and other users of entities’ financial statements can review an entity’s operations from the same perspective.
Only 14% of mid-market businesses are currently reporting on the Scope 3 emissions that the International Sustainability Standards Board (ISSB) recently voted unanimously to require companies to disclose, according to new research from Grant Thornton International published ahead of COP27 in Egypt.
As part of the 2nd statutory inflation relief package, a change has been effected to reduce the employer's contribution to the Employer Family Burden Equalisation Fund (Dienstgeberbeitrag zum Familienlastenausgleichsfonds = DB) from 3.9 % to 3.7 % in the calendar years 2023 and 2024.
IFRS 3 ‘Business Combinations’ contains the requirements for transactions, which are challenging in practice.
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards (IFRIC) or amendments to existing IFRS Standards.
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging.
In the past two years we have seen events that have changed the way we work, and more importantly from an indirect tax point of view, the way we purchase and receive goods and services as consumers. As a result, Value Added Tax (VAT) and Goods and Services Tax (GST) is growing in its complexity and application, as the traditional goods and services model is replaced with digital content; virtual consumption and seamless international trade flows.
Segment reporting is intended to give information to investors and stakeholders regarding the financial results and financial position of the entity that are used by the entity’s chief operating decision maker (CODM). Given this, IFRS 8 ‘Operating Segments’ provides the guidance to preparers on this area.
Generally, financial information is required to be reported on the same basis as is used internally for evaluating operating segment performance and deciding how to allocate resources to operating segments. IFRS 8 ‘Operating Segments’ sets out these requirements and asks for reconciliations of total reportable segment revenues, total profit or loss, total assets, liabilities and other amounts disclosed for reportable segments to corresponding amounts in the entity’s financial statements.