OrbitaxTax implications of IFRS adoption – issues paper released
|Approved Changes|New Zeeland
The government has released for discussion the issues paper dealing with tax consequences of adopting international financial reporting standards (IFRS) in New Zealand.
The use of IFRS for financial reporting in New Zealand has been allowed from 1 January 2005 and will be mandatory from 1 January 2007. As some taxation rules are linked to accounting practices, the changes in…
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