Unveiling a plan to tackle tax avoidance and evasion, Ed Balls, the shadow chancellor of exchequer, said the issue will be at the top of a new Labour government's to-do list.
Taxpayers which use US Generally Accepted Accounting Principles (GAAP) in their financial reporting will get an extra year to implement the new revenue recognition standard after the Financial Accounting Standards Board (FASB) decided at its meeting on April 1 to defer its effective date.
