IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
IFRS IC agenda decision on non-refundable VAT on lease payments
The IFRS Interpretations Committee (IFRS IC) had been asked whether or not non-refundable VAT on lease payments, either because of the nature of the leased property or because of the situation of the lessee, forms part of these lease payments.
Ongoing IASB deliberations on presentation of financial statements
In September, the IASB continued its deliberations following the December 2019 Exposure Draft issued with a view to the possible replacement of IAS 1 on the presentation of financial statements and the amendment of IAS 7 on the statement of cash flows.
Business combinations and impairment tests
Readers will remember that the IASB published a Discussion Paper entitled Business Combinations – Disclosures, Goodwill and Impairment on 19 March 2020.
IASB launches IFRS 9 post-implementation review
On 30 September 2021, the International Accounting Standards Board (IASB) published a request for information as part of the post-implementation review of IFRS 9 Financial Instruments.
Discussion on hyperinflationary economies
Following a meeting on 18 May 2021, the International Practices Task Force (IPTF) of the Center for Audit Quality (CAQ), an independent body based in the United States, has recently published a new document identifying countries that are considered to have hyperinflationary economies.