Building trust in tax disclosures

Explaining group corporate tax results clearly is important to -

Avoid legal action

Show how complex tax is

Meet regulatory requirements

Build public trust in the figures

What are the two fundamental terms in Country by Country reporting?

'group profit' and 'company profit'

'Current tax expense' and 'deferred tax expense'

'Current tax payable' and 'deferred tax payable'

'Tax paid' and 'tax accrued'

In order to make it easier for people to understand tax disclosures, companies should consider -

Adding more appendices explaining how figures are calculated

Omitting complex explanations about how calculations are made

Proving an email address to send in queries

Presenting information in a diagrammatic form

'Temporal differences' can occur when -

Companies are operating in different time zones

Different audit teams are involved

Tax liabilities and accounting profit are recognised in different periods

Accounting periods have different dates

A temporal tax benefit results in -

A re-examination of previous calculations

A decrease in a future tax liability

A deferred tax liability

A refund of tax paid previously

The effective tax rate (ETR) indicator can produce confusing results if -

The company has one large entity and the others are smaller

The company has multiple group entities

The company reports low levels of profitability or losses

Only one entity in the group makes a profit

What is the impact of latent timing mismatch on a group reporting rising profits -

The effective tax rate indicator will seem high

The level of tax paid will seem low

The effective tax rate indicator will seem low

The level of tax paid will seem high

Which of the following is NOT usually a helpful way of explaining complex tax numbers?

Explaining why effective tax rates or tax paid rates produce odd results for low profit and loss entities

Highlighting policy-based benefits and detriments, and other items that are neither

Breaking down tax paid into time periods and reconciling with tax accrued

Providing links to CbCR guidelines and legislation

Which of the following statements is the most likely to be true?

Tax calculations can generate anxiety if only the raw figures are published

People prefer to make their own calculations on how a group has paid tax

Giving people the raw tax figures means nothing is hidden

Most people would prefer to make their own judgement on company tax results

The complexity of tax disclosures means -

There is a risk of creating a misleading impression to the general public

Companies should focus on releasing the raw figures

Mismatches are inevitable

It is better not to offer country by country reporting

Building trust in tax disclosures

Explaining group corporate tax results clearly is important to -

What are the two fundamental terms in Country by Country reporting?

In order to make it easier for people to understand tax disclosures, companies should consider -

'Temporal differences' can occur when -

A temporal tax benefit results in -

The effective tax rate (ETR) indicator can produce confusing results if -

What is the impact of latent timing mismatch on a group reporting rising profits -

Which of the following is NOT usually a helpful way of explaining complex tax numbers?

Which of the following statements is the most likely to be true?

The complexity of tax disclosures means -

You scored

0

out of

0

Test passed. Enter your details to download your certificate. Your certificate will also be sent to you by email.

Our sites

Useful links

Using this site

Contact us

Planned system updates