The government published its consultation on country-by-country reporting as it relates to the Capital Requirements Directive on 20 September with a ridiculously short submission deadline of 18 October.
I have now submitted my response to the consultation, which is the first formal requirement for public country-by-country reporting in the UK. That submission can be found here. I take major issue with some of the government's quite illogical proposals.
If anyone would like to support this submission by emailing CBCRconsultation
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Thanks for copying the submission. One question about your objection to a cash paid basis. In the past I think you have dismissed the inclusion of deferred tax on the basis that deferred tax liabilities are never settled. You are suggesting the total accounts tax charge be used here. Why is that?
I am not saying the total accounts charge should be used
I am saying all three elements, current, deferred and cash should be disclosed
That’s simply to ensure reconciliation with the accounts is possible