Joint Tax Working Group on Financial Reporting Standards (JTWG-FRS)

Following our e-CTIM No.43/2009 dated 16 September 2009, please be informed that the JTWG-FRS has further reviewed the following Financial Reporting Standards (FRS) and would like to circulate the draft write-ups on major tax implications related to the implementation of the FRS for your comments:

FRS 102	Inventories
FRS 140	Investment Property

Please be informed that the above write-ups as attached can also be downloaded from the Institute’s website at http://ctim.org.my/technical_pracstatement.asp .

Members are invited to review the above write-ups and submit their comments to the JTWG-FRS.  Comments should be submitted in writing to the CTIM’s Secretariat or email to kslim@ctim.org.my or technical@ctim.org.my by 21 October 2009 for the deliberation of the JTWG-FRS.  You may also fax your comments to the Institute at 03-2162 8990.

Comments may refer to any specific principles, paragraphs or group of paragraphs and suggestions for alternative solutions or wordings with supporting reasons.  These comments will be collated and, where appropriate, incorporated into the write-ups before finalisation.

The Institute looks forward to receiving your comments on the above matter.

Thank you.

ANN VONG

Executive Director

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Joint Tax Working Group on Financial Reporting Standards (JTWG-FRS)

Following our e-CTIM No.20/2009 dated 24 April 2009, please be informed that the JTWG-FRS has reviewed the following Financial Reporting Standards (FRS) and would like to circulate the draft write-ups on major tax implications related to the implementation of the FRS for your comments:

FRS 2	Share-based Payment
FRS 5	Non-current Assets Held for Sale and Discontinued Operations

Please be informed that the above write-ups as attached can also be downloaded from the Institute’s website at http://ctim.org.my/technical_pracstatement.asp .

Members are invited to review the above write-ups and submit their comments to the JTWG-FRS.  Comments should be submitted in writing to the CTIM’s Secretariat at technical@ctim.org.my or email to kslim@ctim.org.my by 23 September 2009 for the deliberation of the JTWG-FRS.  You may also fax your comments to the Institute at 03-2162 8990.

Comments may refer to any specific principles, paragraphs or group of paragraphs and suggestions for alternative solutions or wordings with supporting reasons.  These comments will be collated and, where appropriate, incorporated into the write-ups before finalisation.

The Institute looks forward to receiving your comments on the above matter.

Thank you.

ANN VONG (MS)

Executive Director

Click HERE for printer friendly version of this circular