Ernst & Young Monthly News October 2007
E-News
(PDF German, French, 336 kB)
This edition includes the following topics: Family Business in an international context / Successful Initial Public Offering by planning ahead
and by demonstrating stamina / Internal Control System: How to implement it in a pragmatic and beneficial manner / Corporate Tax Reform II / Revision
of the stock corporation- and accounting standards law / Entrepreneur Of The Year – 10th Anniversary / Swiss GAP FEER: easy – comprehensible – user-oriented
(PDF English, German, French, 71 kB)
How can one benefit from a self-assessment of the Board?
(PDF English, 158 kB)
The State Administration of Foreign Exchange (SAFE) recently issued procedural guidelines (the Guidelines) for managing the foreign exchange
transactions allowed under equity-based incentive plans (Incentive Plans). The shares involved in the Incentive Plans refer to foreign listed companies shares.
(PDF English, 200 kB)
A notice summarizing the import levy concessions currently in force on capital equipment financed by foreign investment projects was issued on
July 13, 2007 jointly by the General Customs Office, the State Development and Reform Commission, the Ministry of Finance and the Ministry
of Commerce (Notice [2007] No. 35, herein after referred to as the Notice). The provisions therein are effective from July 20, 2007.
(PDF English, 200 kB)
The PRC Unified Corporate Income Tax Law (hereinafter referred to as CITL) was passed and announced by the National Peoples Congress on
March 16, 2007 and will become effective on January 1 next year. We have, in our March edition of Tax Alert, summarized the key changes that
were immediately known when the new law came out. However, as we have indicated in our Tax Alert, there are a lot of uncertainties pending clarification
by the imminent release of the Corporate Income Tax Law Implementation Regulations (hereinafter referred to as CITLIR). The uncertainties mainly have to
do with finer details of tax concessions, deductibility restrictions, and definitions of new terms that appear in the CITL but without critical details
about their applicability.
(PDF English, 131 kB)
This newsletter summarises the main discussions and conclusions reached concerning financial instruments at the June and July 2007 meetings of the
International Accounting Standards Board (IASB or Board), as well as the July 2007 meeting of the International Financial Reporting Interpretations
Committee (IFRIC or Committee).
(PDF English, 50 kB)
IAS 1 Presentation of Financial Statements
(PDF English, 109 kB)
Exposure Draft of proposed amendments to IAS 39 – Exposures qualifying for hedge accounting
(PDF English, 58 kB)
Exposure Draft 9 – Joint Arrangements
(PDF English, 159 kB)
Editorial / Major Developments: VAT Reform; Focus on Malta / Direct Tax: Country Updates / Indirect Tax: Latest EU Developments; Country Updates /
Contacts: Direct Tax; Indirect Tax
(PDF English, 152 kB)
Editorial / Major Developments: VAT Simplification; Focus on Third Country Investments / Direct Tax: Country Updates / Indirect Tax: Latest EU
Developments; Country Updates / Contacts: Direct Tax; Indirect Tax
(PDF English, 164 kB)
Editorial / Major Developments: Taxation and Portugal’s Presidency; EU Perspective on UK CFC Rules / Direct Tax: Country Updates / Indirect Tax:
Latest EU Developments; Country Updates / Contacts: Direct Tax / Indirect Tax
(PDF English, 321 kB)
Editorial / Current Status of the GIPS® Initiatives / New GIPS® Guidance Statements / GIPS® and MiFID / The Case for GIPS® in China / GIPS® Implementation
at ING in Poland, Interview with Wojciech Jachimiak / Upcoming GIPS® Conferences and Seminars / Contacts