Nine countries are now part of the initiative to jointly publish annual tax revenue statistics for Africa, a project aimed at improving the transparency, reliability and comparability of revenue statistics between African countries, but also with other regions of the world.
A group made up of a university, a professional services firm, a development bank and research and educational organisations is coming together to offer training for Eurasian and African tax officials.
The forthcoming draft Accounting Standards Update (ASU) on share-based payment, also known as stock-based compensation, from the Financial Accounting Standards Board (FASB) in the US will propose revisions relating to the representation of tax benefits and deficiencies in the income tax expense and statement of cash flows. However, the changes are unlikely to bring US Generally Accepted Accounting Principles (GAAP) closer to IFRS (International Financial Reporting Standards) on this issue.
