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The tax effect of IFRS for banks paper


The move from AGAAP to AIFRS will affect most, if not all reporting entities in many ways.  In many respects the banking industry will be the most affect by the move to AIFRS, given the combination of the nature of its business, and the overall size, complexity and global scale of the organisations within the industry.  This paper outlines the major differences between AGAAP and AIFRS and sets out some of the key financial reporting, tax and systems factors that affect the banking industry as a result of its move to AIFRS.

Author profile:

Richard Buchanan FTI-Life
Richard is a Corporate Tax Partner with Deloitte Touche Tohmatsu. He specialises in advising major corporates on the tax implications of major transactions such as mergers and acquisitions, divestments, restructures and IPOs. Richard also has experience in advising corporates on implementing both A-IFRS and tax consolidation. Richard is a member of the NTLG IFRS subcommittee and the ICAA IFRS subcommittee and has been heavily involved in the consultation with respect to the development of the share capital tainting provisions. Current at 11 September 2006 Click here to expand/collapse more articles by Richard BUCHANAN.

This was presented at 2006 Financial Services Taxation Conference: From every angle.

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Interpreting and applying the tax regime in practice - a legal perspective

Author(s):  Jennifer DAVIES

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Interpreting and applying the tax regime in practice - an ATO perspective

Author(s):  Ashley KING,  George HITTI

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