Australia

Details

  • Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 24/05/2013

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Liabilities for levies (2013/09) 

Levies have become more common in recent years, with governments in a number of jurisdictions introducing levies to raise additional income.
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Interpretation 21 Levies clarifies that the wording of the relevant legislation drives the timing of the recognition of the liability.