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.
Identifying cash-generating units (CGUs) is a critical step in the impairment review and can have a significant impact on its results.
Hotels may have escaped many of the negative headlines associated with aviation and tourism, but they still face real challenges.
Reforms to the international tax framework have been debated and discussed at length in recent years.
Eight of the 13 monitored mid-market industries returned to positive health in H1 2021, as assessed by Grant Thornton’s unique Global business pulse, compared with just two in H2 2020.
The final version of the regulation for the determination of the tax EBITDA ("Earnings before Interest, Taxes, Depreciation and Amortization") and the Group EBITDA has been published in the Federal Gazette II No. 390/2021.
Usually non-current assets are measured in the financial statements at either cost or revalued amount. However, IAS 36 ‘Impairment of Assets’ requires assets to be carried at no more then their revalued amount and any difference to be recorded as an impairment.
Our first article in the Insights into IAS 36 series provides an ‘at a glance’ overview of IAS 36’s main requirements and outlines the major steps in applying those requirements.
IAS 36 ‘Impairment of Assets’ provides the core principles when assessing if an asset should be impaired. However, due to the complex nature of the guidance, the requirements of IAS 36 can be challenging to apply in practice.
IFRS 17 heralds a new era of accounting for insurance contracts because it sets out principles-based requirements that aim to improve the comparability of the measurement and presentation of insurance contracts across entities reporting in jurisdictions applying International Financial Reporting Standards (IFRS).
On the occasion of the current ECJ case law, the new LSD-BG was amended accordingly.
Over the last 18 months, we have all had cause to be more empathetic, in our home lives, with our colleagues, and towards our communities. And business leaders have faced imperatives to be empathetic in their roles, as physical collaboration has been replaced with virtual interaction, and staff have been placed under unprecedented stresses, calling for an altered, more flexible leadership skillset.
With the opening up of the global labour market thanks to changes in working practices and developments in technology, opportunities to break into new markets and service new customers await.
Demystifying psychological safety, revealing the practical application behind the complex language surrounding it, is vital if leaders are going to succeed in creating an inclusive working environment.
Now that Short-Time Work Phase IV has expired at the end of June 2021 and many companies are still economically impacted due to the Corona pandemic, the government and the social partners recently announced the first details of short-time work Phase V. Below you will find the main framework conditions of the new Corona short-time work Phase V.
This Standard clarifies how to measure fair value when a market becomes less active. IFRS 13 applies to both financial and non-financial items but does not address or change the requirements on when fair value should be used.
In the post-pandemic landscape, a new model of leadership will be needed to enable organisations to thrive. Engendering innovation, collaborating and communicating across the business, and adapting to change have become operational necessities, while empathy and inclusion are the keys to team performance.