Looking forward to a happy ending
Article Abstract:
Stock exchanges all over the world can make important contributions to efforts to harmonize national accounting standards and promote mutual recognition of financial statements. Participating in this project is in the interest of stock markets because it can stimulate international investments and encourage the use of capital markets in foreign countries. A 1995 study indicated that companies tend to list on stock exchanges that do not require them to provide additional financial information. Bourses are therefore urged to adopt standards developed by the International Accounting Standards Committee (IASC) as soon as they are endorsed by the International Organization of Securities Commissions. Local exchanges can help by translating IASs into their countries' official language and by assisting in determining the acceptability of IASs as national standards.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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ACT reform aims to pull in foreign companies
Article Abstract:
Chancellor of the Exchequer Norman Lamonthas recognized the need to introduce changes to the present corporation tax system because of the problems it creates for UK tax resident companies whose bulk of earnings come from their overseas operations. Lamont has also acknowledged that the risk of being subjected to surplus advance corporation tax is discouraging non-UK companies from establishing their European headquarters in the country. To rectify the situation, the Chancellor made proposals that would give companies the option to pay a 'foreign income dividend' with special tax treatment. The implementation of these proposed measures could give rise to a new fiscal regime that will be more appealing to foreign investors and may even enhance the attractions of the UK as an EC location.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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