IASB rejects new accounting standard for income taxes and country-by-country reporting

Ralph Cunningham

December 18, 2012

The International Accounting Standards Board (IASB), which is responsible for the development of international financial reporting standards (IFRS), has dashed the hopes of those hoping for better and more transparent rules on accounting for income taxes by saying no to work on a new standard and ruling out a requirement for country-by-country reporting.

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