Legal Week Reports
December 08, 2004 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Law firms look set to face a oneoff tax hike following a ruling by the Accounting Standards Board (ASB).
The ASB’s Urgent Issues Task Force (UITF) issued the directive on the controversial FRS5 accounting clarification first introduced in November 2003, specifying that work in progress should be fully taxed.
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