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Advance Pricing Agreement (APA): Ensuring Certainty in Uncertain Times
Transfer Pricing (TP) risk has never been as high for MNEs as it is today due to additional reporting requirements and exchange of information emanating from Base Erosion and Profit Shifting (BEPS) action plans issued by the Organisation for Economic Co-operation and Development (OECD).
The Retirement of LIBOR
The end of LIBOR is certain, and this has wide implications on financial instruments, including disclosures in financial statements where firms have LIBOR exposure. Some clarity will be given here as to why an orderly and timely transition to a new benchmark rate cannot be delayed much longer.
The Impact of the IFRIC Agenda Decision on Over Time Transfer of Constructed Good (IAS 23 Borrowing Costs)
In March 2019, the IFRS Interpretations Committee (IFRIC) issued an Agenda Decision on IAS 23 Borrowing Costs relating to capitalisation of borrowing costs in relation to the construction of a residential multi-unit real estate development (building).
Relevance of Force Majeure in Transfer Pricing Amidst Current Turbulence
Given the scale of disruption caused by COVID-19, many businesses are posed with a serious risk of dislocation of their supply chains and inability to meet business obligations, resulting in potential breach of legal contracts.
COVID-19 – Revised Deadlines for Annual Report Submissions and Key Challenges in Financial Reporting for Listed Companies
The COVID-19 pandemic and the Movement Control Order (MCO) have affected how businesses operate. In this ‘new normal’, businesses need to strategise and adapt quickly to survive and sustain their operations.
