Beyond IAS 12

This workshop is the precursor to IAS 12-Advanced Topics

As the title suggests, this one-day workshop addresses issues not strictly addressed by IAS 12 Income Taxes -we take you beyond the standard. Our expert presenters will explain to you the key requirements of Corporation Tax in Trinidad and Tobago and will also provide you with a working knowledge of IAS 12 Income Taxes

·         Corporation Tax

o   Basis of Assessment

o   Chargeable Income

o   Exempt Income

o   Deductible Expenditure

o   Non-Deductible Expenses

o   Allowances

o   Withholding Tax

o   Compliance Issues

·         IAS 12

o   OBJECTIVE

o   SCOPE

o   DEFINITIONS

§  Tax base

o   RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS

o   RECOGNITION OF DEFERRED TAX LIABILITIES AND DEFERRED TAX ASSETS

§  Taxable temporary differences

§  Assets carried at fair value

§  Goodwill

§  Initial recognition of an asset or liability

§  Deductible temporary differences

§  Goodwill

§  Initial recognition of an asset or liability

§  Unused tax losses and unused tax credits

§  Reassessment of unrecognised deferred tax assets

o   MEASUREMENT

o   RECOGNITION OF CURRENT AND DEFERRED TAX

§  Items recognised in profit or loss

§  Items recognised outside profit or loss

§  Deferred tax arising from a business combination

§  Current and deferred tax arising from share-based payment transactions

o   PRESENTATION

§  Tax assets and tax liabilities

§  Offset

§  Tax expense

§  Tax expense (income) related to profit or loss from ordinary activities

§  Exchange differences on deferred foreign tax liabilities or assets

o   DISCLOSURE

Course Benefits

At the end of the course, participants will be able to:

·         Understand the key requirements of Corporation Tax law and practice in Trinidad and Tobago

·         Understand the requirements of IAS 12

·         Apply their knowledge to the preparation of corporation tax returns and to the presentation of financial statements

·         Improve planning as a result of awareness of future 1ASB standard-setting activities

Prerequisites

An understanding of basic accounting principles. Participants are encouraged to pre-read IAS 12 Income Taxes.

Presentation Methodology

·         Review and discussion of the requirements of Corporation Tax in Trinidad and Tobago

·         Review and discussion of the rationale and objective of IAS 12 Income Taxes.

·         Live group instruction with detailed explanations and examples.

·         Description and explanation of the technical requirements of IAS 12 Income Taxes in clear and simple language.

·         Use of case studies, exercises, interpretations, and real-world financial statements to illustrate the practical application of the standards, which are the focus of this course.

·         Individual and group participation in an interactive setting will be encouraged.

·         Each participant will receive a folder containing copies of the presentation and other course materials.

Continuing Professional Development (CPD)

7 hours

Course Venue Dates and Times

May 20^th:-Marriott Hotel, Port of Spain, Trinidad
May 22^nd:- Royal Hotel, San Fernando, Trinidad

Cost per workshop

·         TT $1,750 VAT Inclusive

·         Registration on or before April 26: - 10% discount

·         Registration of 5 or more persons from the same organization: - 10% discount

·         Discounts cannot be combined

Who Should Attend

The program is geared towards:-

·         Financial Controllers and Accountants

·         Internal Auditors

·         External Auditors

·         Company Directors responsible for the finance and accounting functions

·         Chief Financial Officers

·         Regulators

·         Corporate Advisors

·         Financial Analysts

·         Academics

Presenters

·         Peter Pierre –Tax Consultant

·         David Raggay

4 EASY WAYS TO REGISTER:

• Please complete the attached registration form and email it to us at seminars@ifrs-consultants.com OR

• Send us an email with details of registrants and desired programs at seminars@ifrs-consultants.com OR

• Send us a fax with details of registrants and desired programs to (868)-622-2217 OR

• Call us with your registration details at (868)-622-2217

CANCELLATION POLICY

You may cancel your registration at any time prior to the workshop. If you cancel your registration 14 days or more before the workshop, an administration charge equivalent to 10% of the total amount of your fees plus VAT in accordance will be charged.

If you cancel your registration less than 14 days, but more than 7 days before the workshop an administration charge equivalent to 25% of the total amount of your fees plus VAT.

The full amount of your fee remains payable in the event that your cancellation is 7 days or less before the workshop or if you fail to attend the workshop. All cancellations must be sent by email to seminars@ifrs-consultants.com with the subject: CANCELLATION and must be received by IFRS CONSULTANTS.

Details of our training events can be found at: http://ifrs-consultants.com/ifrstraining.html