Latest news

• The IASB has released an updated work plan for its various projects

  A number of projects has been deferred, the expected timing of other projects more precisely defined, and the deadlines for finalising IFRSs on leases and revenue recognition projects have not been explicitly stated within the timeframes outlined (which means that they are currently not expected before the end of 2012).

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• Supreme Court decides on inter company loan facilities in the Netherlands

  On 25 November 2011 the Dutch Supreme Court ruled in 3 cases on loans not negotiated on commercial terms granted to affiliated companies. The Dutch Supreme Court provided Dutch tax practice with rules with respect to the fiscal treatment of loans.

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• Supplier must charge German VAT if the arrival of the goods is not confirmed

  As from 1 January 2012, German legislation will require businesses that supply goods from Germany to other EU countries to have a so-called “Gelangensbestätigung” or “Confirmation of Arrival” (CoA) in their administration. If the supplier does not have this CoA in its administration, it will be required to charge German VAT.

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