16 June 2023

Deferred tax decision deferred

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again

  1. Who has issued the new tax reforms?

  2. When are the Pillar Two tax rules implemented from?

  3. Which, if any, of the following statements are true? Statement 1, the exception has no defined end date on it, or statement 2, the exception is mandatory

  4. What will the minimum tax rate be for multinational enterprises?

  5. What is the revenue threshold to be for the tax rules to apply?

  6. What is the action taken by the IASB?

  7. Which of these items must be disclosed under IAS 12?

  8. Which of these proposals regarding IFRS for SMEs are correct? Proposal 1, apply the same exception as proposed per IAS 12, or proposal 2, require entities to disclose the current tax expense arising from the Pillar Two rules

  9. When are the changes to IAS 12 applicable?

  10. Which, if any, of the following statements is correct? Statement 1, top-up tax will generally be charged in the jurisdiction of the ultimate parent of the MNE, or statement 2, top-up tax will be excluded from the current tax estimate

1 unit