(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Brexit

Major cash flow benefit of deferring VAT on imports

ICAS and Chartered Accountants Ireland, have issued a joint call to the Irish and UK governments to introduce legislation to alleviate the VAT burden on importers after Brexit. An often overlooked side-effect of Brexit is that VAT will become an upfront cost for imports between Ireland and the UK for the first time after Brexit, if the… Read More Major cash flow benefit of deferring VAT on imports

(c) Hong Kong Institute of Certified Public Accountants. Contact HKICPA for permission to reproduce this article., Tax

Building a statutory transfer pricing regime

The Inland Revenue (Amendment) (No.6) Bill 2017, which relates to Hong Kong’s commitment to implementing BEPS action 13, caused a stir in the accounting profession. The Institute’s tax experts tell Nicky Burridge how certain aspects of the new bill go beyond what was expected yet include positive signs of Hong Kong’s determination to step up… Read More Building a statutory transfer pricing regime

(c) Chartered Accountants Ireland. Contact Chartered Accountants Ireland for permission to reproduce this article., Public Interest

One giant leap for finance in the civil service

Leading the transformation of the civil service finance function is a challenge, but one worth taking on, explains Connie Costello On 30 September 2016, the Minister for Public Expenditure and Reform announced that the Department of Public Expenditure and Reform had taken a significant step towards the modernisation of Government financial management administration. The Government… Read More One giant leap for finance in the civil service

(c) American Institute of Certified Public Accountants. Contact AICPA for permission to reproduce this article., Financial Reporting, Tax

New Revenue Recognition Standard Has Significant Implications for Tax Accounting and Return Preparation

by Joan L. Schumaker, CPA, New York City Editor: Michael Dell FASB and the International Accounting Standards Board (IASB) jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards (IFRS). FASB Accounting Standards Update (ASU) No. 2014-09, Revenue From Contracts… Read More New Revenue Recognition Standard Has Significant Implications for Tax Accounting and Return Preparation

(c) Chartered Accountants Ireland. Contact Chartered Accountants Ireland for permission to reproduce this article.

A CHAT WITH THE CHAIRMAN: An Interview with Chairman of the Revenue Commissioners, Josephine Feelihy

By Daisy Downes Josephine Feehily was appointed Chairman of the Revenue Commissioners in 2008 and has more recently been elected as Chair of the World Customs Organisation. In an extended interview, she told Accountancy Ireland’s Daisy Downes about the challenges Revenue is facing as a result of the austerity programme and the steps being taken… Read More A CHAT WITH THE CHAIRMAN: An Interview with Chairman of the Revenue Commissioners, Josephine Feelihy