IFRS EU Endorsement Process: November
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 2 November 2018.
IFRIC 23 endorsed for use in the EU
On 23 October 2018, IFRIC 23 Uncertainty over Income Tax Treatments was endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date (annual …
IASB issued amendments to IAS 1 and IAS 8 regarding the definition of materiality
On 31 October, the International Accounting Standards Board (IASB) issued ‘Definition of Material (Amendments to IAS 1 and IAS 8)’ to clarify the definition of ‘material’ to make it easier for companies to make…
Restructuring Reserve
Restructuring refers to a programme that significantly changes an entity’s subject of business or the way it operates. If the entity enters the restructuring process, it should create a restructuring reserve in…
GFD’s New Guidance Note on the Binding Assessment of Transfer Pricing and the Method of Determining the Tax Base for Permanent Est…
On 9 November 2018, a new guidance note, D - 32, of the General Financial Directorate (“GFD”) was published in the Financial Bulletin of the Ministry of Finance on the binding assessment of the pricing method b…
Netherlands: confirmation of CJEU decision in fiscal unity cases by Supreme Court
The Dutch Supreme Court issued a decision on 19 October 2018 confirming the February 2018 decision of the Court of Justice of the European Union (CJEU) on the compatibility of the Dutch fiscal unity regime with…
Current Situation as Regards the Tax Package Approval Procedure
The second reading of a bill amending various tax laws (the so-called Tax Package, Parliamentary Document No. 206) is to be included in the programme of the 24th session of the Chamber of Deputies, taking place…
European Commission Approves an Investment Package of EUR 243 Million from the EU’s Budget for LIFE Projects
On Thursday, 25 October, the European Commission approved an investment package of EUR 243 million from the EU’s budget to fund projects under the LIFE Programme.
2020: A Crucial Year in Subsidies
The current programming period of the Enterprise and Innovation for Competitiveness Operational Programme (“OP PIK”) has been stipulated for the period from 2014 to 2020. Therefore, 2020 will be a landmark year…