Новости

Tax dodgers freed from criminal liability in Russia

Russia’s president Dmitry Medvedev signed the law, according to which the ones who have avoided taxes for the first time, may be freed from criminal liability. For that, an “unsuccessful” tax dodger will have to compensate all he or she was supposed to pay to the budget and pay a fine.

CIOT warns business to be ready for EU VAT changes

The incoming EU VAT Package, which affect changes to rules on the taxation of cross-border services, is set to pose an administrative burden for business, the Chartered Institute of Taxation has warned.

US financial regulators will continue to look after compensation schemes

America’s largest banks returned taxpayer’s money to the government, thus setting themselves free in terms of their bonus strategies. Despite all that, financial regulators don’t want to leave it all behind, and starting from the beginning of 2010, banks will have to disclose information on bonuses and to provide reasoning for their decisions.

Ukraine’s government approves the concept of tax reform

The Cabinet of Ministers of Ukraine has approved the concept of tax reform which is supposed to be implemented in 2010-2018. Reformation of the tax system should help tax administration and cancel tax preferences.

German banks dissatisfied with IFRS costs

More than a third of banks in Germany have indicated dissatisfaction with the costs and efficiency of their International Financial Reporting Standards solutions, a poll has found.

PCAOB Establishes Academic Fellowship Program For 2010-2011 Academic Year and Solicits Candidates

The Public Company Accounting Oversight Board announced today the establishment of and candidate solicitation for an Academic Fellowship Program.

FOREX market will be taken under regulation

According to estimations by experts of the National Association of Securities Market Participants (NAUFOR), actions taken by companies at the foreign currency exchange market bear a whole bunch of various risks. Business activity of forex companies in Russia is not licensed. Transactions between them and their clients may sometimes be seen as betting and not fall under legal regulation.

IPSASB Achieves Goal of Substantial Convergence With IFRSs

International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) achieved its strategic goal of substantial convergence with the International Financial Reporting Standards (IFRSs).

Poll says convergence not a top priority

Convergence between international accounting standards and US standards is less important than ensuring the accounting rules work are relevant to investment decision, a survey has found.

Buffet getting rid of Moody’s because of its reputation

American billionaire Warren Buffet is getting rid of Moody’s shares because of the problems the rating agency faced with regulators’ critics, litigation and falling profits. Since June, Buffet’s stake in Moody’s has gone down by 34% to 48 million shares.