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Making Tax Digital : What’s coming our way!

15 Nov, 2018  Posted By Thenvi Subin   Posted in MTD
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One of the most intellectual persons the world has ever had, Albert Einstein said, “The hardest thing in the world to understand is the income tax.” Tax payments have almost been like rocket science to most taxpayers. Even Former U.S. … Continue reading

 

The Developers’ Disclosure Guide to Ind AS 115

15 Nov, 2018  Posted By Charles A   Posted in MCA
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Ministry of Corporate Affairs (MCA) brought Ind AS 115 as part of the Companies Amendments Rules 2018. Ind AS 115 replaces Ind AS 11and 18 which are related to revenue and construction contracts. MCA has introduced Ind AS 115 with … Continue reading

 

Malaysian Business Reporting Standards (MBRS) – What you need to know

05 Nov, 2018  Posted By Shabeer   Posted in MBRS
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What is XBRL and its benefits: XBRL stands for eXtensible Business Reporting Language, and is a global, unified standard for the creation and sharing of business information. It allows data to be read and analysed by both humans and computers. … Continue reading

 

House of Representatives Passes the GREAT Act

29 Oct, 2018  Posted By Guru Raj Singh   Posted in Great Act
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In the final week of September 2018, the House of Representatives passed the Grant Reporting Efficiency and Agreements Transparency (GREAT) Act of 2018 through a voice vote. Although there is still work to be done before the GREAT Act of … Continue reading

 

The Importance of Finding the Right Managed Tagging Service Provider

25 Oct, 2018  Posted By Shabeer   Posted in iXBRL
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Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large … Continue reading

 

Proposed Update to the IFRS Taxonomy 2018 Released by the IFRS Foundation

25 Oct, 2018  Posted By Guru Raj Singh   Posted in Uncategorized
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On September 20 2018, the IFRS Foundation published Proposed IFRS Taxonomy 2018 Update PTU/2018/1 relating to Common Practice (IFRS 13 Fair Value Measurement), which is now open to the public for consultation. According to the IFRS Foundation, the proposed amendment includes … Continue reading

 

HMRC opens pilot for MTD VAT filers

19 Oct, 2018  Posted By Shabeer   Posted in MTD
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The tax authority HM Revenue & Customs (HMRC) has invited more than half a million businesses to test Making Tax Digital (MTD) for VAT moving forward to the digitisation of tax which will be effective from April 2019. HMRC has … Continue reading

 

It’s time to get ready for Making Tax Digital

12 Oct, 2018  Posted By Shabeer   Posted in MTD
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Originally announced back in 2015, Making Tax Digital aims to digitise the UK’s taxation system through the use of digital records and online filing through compatible software. With just months to go before the launch of Making Tax Digital for … Continue reading

 

Who Could Use CATO to File Their Returns with HMRC in the UK?

10 Oct, 2018  Posted By Shabeer   Posted in HMRC
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In the ideal world, it wouldn’t cost businesses any money to file their annual tax returns and accounts with HMRC and Companies House, respectively. Luckily, for some companies, this dream is a reality thanks to the Company Accounts and Tax … Continue reading

 

The advantages of XBRL

05 Oct, 2018  Posted By Shabeer   Posted in xbrl
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XBRL, also known as eXtensible Business Reporting Language, is an open standard reporting language that was introduced with the intention of improving the quality of financial data reporting. It is a form of extensible markup language (XML) that is used … Continue reading

 

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