21 Aug 2024 HKAS 12 Income Tax: A Deep Dive into the Latest Developments and Potential Pitfalls

Aug 4, 2024

Deferred tax is an accounting measure used to match the tax effects of transactions with their accounting impact. This webinar will explore the latest updates to HKAS 12 on the Initial Recognition Exemption and potential pitfalls surrounding the application of HKAS 12 Income Tax.

The session delved into the practical implications of these changes, highlighting common challenges and areas of concern that finance professionals may encounter when implementing HKAS 12.

Key topics covered included:

▪️Common areas that give rise to deferred tax liabilities and assets;

▪️Reconciliation statement of income tax for disclosure;

▪️Amendments to HKAS 12 on ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction’

▪️The treatment of deferred tax on lease contracts in Hong Kong

SPEAKER: EUNICE CHU

She is the founder of EC Training and Advisory Ltd and Eunice Chu CPA & Co, which delivers professional training and advisory services to the accounting community through ACCA, the Society of Chinese Accountants and Auditors (SCAA), the Association of Women Accountants (Hong Kong) Limited (AWAHK), the Shanghai National Accounting Institute, the government of Macao and Hong Kong. She also maintains an online education platform http://learning.eunicechu.com.

Currently, she is a Senior Lecturer at Kaplan Hong Kong. She is also a Committee Member of ACCA Hong Kong, a Council member of AWAHK, the Co-Chairman of the Professional Development Committee of AWAHK, a member of the Training Committee of SCAA and the Hong Kong Association of Professional Accountants (HKAPA).

Prior to that, Eunice was the Head of Policy of ACCA Hong Kong, and Regional Finance Director of the Asia Pacific Region of Sony Music Asia Inc. and Revlon Inc. She had also worked as an auditor at PricewaterhouseCoopers.