July 2019

Equalization Levy or Google Tax

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Introduction  E-commerce companies provide a platform where supply and procurement of goods and services takes place digitally. Consequently, it has resulted into an evolution of various new business models, where huge business transactions are made and availed through telecommunication network. Inadequacy of such a tax regime governing income generated through  digital business transactions has posed a set of new challenges to taxing authorities. Challenges in form of difficulties in characterizing… Read More »Equalization Levy or Google Tax

International Financial Reporting Standards (IFRS)

Meaning As the name suggests, IFRS is a set of standards suggesting how to report financial statement at international level. While maintaining company’s account, preparing and reporting financial statement, these standards must be followed in practices of accounting. Standards of Financial Reporting were designed to provide a common set of rule to be followed by companies in financial reporting. The purpose of establishing common international standards is to make all… Read More »International Financial Reporting Standards (IFRS)