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Need to know — Accounting for the effects of the U.S. tax reform legislation

Published on: 29 Jan 2018

On 22 December 2017, the U.S. tax legislation commonly known as the Tax Cuts and Jobs Act was signed into law by the president. As a result, recognition of the tax effects of the Act is required in the interim and annual periods that include 22 December 2017.

This newsletter looks at the accounting for the effects of the Act under IAS 12 Income Taxes and the implications under FRS 101 and FRS 102.


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