Now that Making Tax Digital (MTD) for VAT is in effect, it’s easier to reflect on HMRC’s digitalisation initiative with clarity.
Where before certain parts of the legislation initially appeared unclear, today we’re able to identify the exact responsibilities of both clients and accountants. Whether that’s knowing how to move your accounts online or selecting bridging software to ensure compliance, all parties now have the resources to stay on the right side of the taxman come tax return deadlines.
The International Accounting Standards Board (IASB) has published Equity Method in Separate Financial Statements (Amendments to IAS 27). The amendments to IAS 27 will allow entities to use the equity method to account for investments in subsidiaries, joint ventures and associates in their separate financial statements.
Malaysia's economy grew a better-than-expected 6.4% in the second quarter on the back of stronger exports and robust domestic demand, the central bank said on 15 August 2014.
The State Council has revised 21 administrative regulations to cancel or decentralise administrative approvals. The decision, endorsed by Premier Li Keqiang, is effective immediately, said a statement from the State Council, China's cabinet, on 15 August 2014.
Xinhua published a commentary on 14 August 2014 on China's economic performance in the first seven months under the leadership of the Communist Party of China (CPC).
China received 11,243 international patent applications through the Patent Co-operation Treaty (PCT) in the first half of the year, the State Intellectual Property Office said 13 August 2014.