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Today’s business and tax environment is increasingly complex, there are more and more demands for transparency, tax departments are under pressure to be more effective and highly qualified professionals can be hard to obtain.
IRS proposes disclosure of uncertain tax positions
A new proposal to require certain business taxpayers to disclose uncertain tax positions at the time they file their returns has been announced by the IRS. On this page you can access a range of materials from Ernst & Young. Be sure to check back regularly on this developing issue.
Searching for clarity in Uncertain Tax Positions: financial reporting perspectives
Our paper on uncertain tax positions (UTPs) under IFRS (pdf, 684.1kb) provides insights into practices that have developed in the financial reporting and disclosure of UTPs, given the lack of direct guidance IAS 12 (Income Taxes) has in this area. It also discusses potential future developments around this hot topic.
Tax documentation goes global
In an era of globally integrated business, a comprehensive tax documentation and retention policy is increasingly vital for multinational organizations. We examine the rules in force in 16 countries around the world and sets out what we believe good tax documentation should cover. Download "Tax documentation goes global" (pdf, 731kb).
Analysis of the IAS 12 exposure draft
The IASB has published the IAS 12 exposure draft. Tax departments will need to quickly understand the differences between it and the current IAS 12, and understand the potential impact it will have across the spectrum of the tax life cycle - tax planning, provision, compliance, and controversy. In addition, tax departments need to assess the potential impact on their people, process and technology/data gathering systems. Read more in Ernst & Young's analysis of the exposure draft (pdf, 116kb).
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