Tax Management and Tax Accounting

Tax Accounting And COVID-19: Reporting The Impact

Tax Accounting And COVID-19: Reporting The Impact
Tuesday 19 May, 13:00 BST/14:00 CEST
Host: Julie Hughff
Presenters: Alexandra Warren, Stephanie Hurst

Accounting for income taxes can be inherently judgmental, and calculating tax provisions in uncertain times as a result of COVID-19 presents further challenges. How can tax teams navigate uncertainty to report the impact in financial statements with confidence and clarity? We’ll discuss:

  • Deferred tax asset recognition in the context of a revised expected future profit profile.
  • Interim reporting – forecasting an annual effective tax rate and dealing with one-off tax adjustments.
  • Accounting for new legislative relief measures – where and when should these be recorded?
  • Accounting for the tax consequences of changing cash needs – unanticipated distributions and impact on ETR.
  • Tracking and assessing uncertain tax positions associated with a changing tax risk profile.

We will explore the practical aspects of these issues and share insights from relevant discussions with a variety of organisations.


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