Новости

Minfin wants to tax Eurobonds anyway

The Ministry of Finance has made a final decision on taxing Eurobonds, earlier postponed until 2014. Eurobonds in Russia are issued by large companies. The ministry wants to collect taxes from their holders, depending on which jurisdiction they belong to (this information may be acquired from the Central Depository).

IASB publishes further editorial corrections

The International Accounting Standards Board (IASB) has published its first batch of editorial corrections for 2013. The editorial corrections are in respect of the 2013 IFRS “Blue Book” and remove incorrect references to IFRS 9 “Financial Instruments”.

Financial Reporting Lab report on “Reporting of pay and performance”

At the request of the Department of Business Innovation and Skills (BIS), the Lab has undertaken a second project on remuneration - this time exploring the views of investors and companies on two new aspects of the draft reporting regulations on remuneration.

Ukraine also wants to restrict cash settlement of accounts

The National Bank of Ukraine is commencing public discussion of a similar restriction for cash settlement of large accounts. The upper limit in this case is 150 thousand hryvnas (which is approximately 18.4 thousand dollars, and this is more than in case of Russia’s restriction because 300 thousand roubles ≈ $10 thousand).

IPSASB encouraged by G-20 delegates' focus on strengthening the public sector balance sheet

The International Public Sector Accounting Standards Board (IPSASB) welcomes the G-20 Finance Ministers’ and Central Bank Governors’ decision to address “transparency and comparability of public sector reporting” in the final communiqué issued for their February 15-16 meeting.

EU formally adopts amendments to IFRS 1

The European Union has published a Commission Regulation endorsing the amendments to IFRS 1 regarding government loans published by the IASB on 13 March 2012.

Bank of Russia being asked to postpone Basel III for banks

The discussion at yesterday’s meeting of Dmitri Medvedev went around several important subjects, and one of them was adoption of new rules for banking regulation known as “Basel III”.

Tax disputes in Russia will be solved out-of-court

The Federal Tax Service of Russia has prepared new regulations for out-of-court settlement of tax disputes. A bit earlier the Ministry of Finance of the Russian Federation also prepared a draft law to adopt obligatory order for out-of-court settlement of all tax disputes. If the approach is adopted, this will significantly decrease workload for courts, decrease time and financial expenses and speed up the process.

USA starts to economize on government expenses

Last Friday American president Barak Obama and republicans made their last attempt to evade the budgetary sequester, and it failed. In the end Obama admitted that he didn’t have enough power to prevent the sequester of the budget and signed the direction on cutting budgetary expenses for federal agencies.

GRI and IIRC deepen cooperation to shape the future of corporate reporting

The Global Reporting Initiative (GRI) and The International Integrated Reporting Council (IIRC) today announced an agreement that will see the two organizations deepen their cooperation to transform the future of corporate reporting.