The Financial Accounting Standards Board (FASB) voted on July 9 to approve a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers.
The OECD, and the Global Forum on Tax Transparency and Exchange of Information, which it organises, have moved to assert their preeminence as the international bodies that discuss and decide on transparency and exchange of information standards. The OECD's Pascal Saint-Amans and Monica Bhatia have described as "very unfortunate" the publication by the EU Commission of a list of the top 30 non-cooperative jurisdictions blacklisted by EU member states.
Justin Woodhouse has become the sole head of PwC's tax team in the Channel Islands after the retirement of predecessor Wendy Dorman at the end of June.
