• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App

How should I report VAT gains /Net Sales increase originating from prior periods?

My company sells goods in Brazil and recently, the Supreme Court equivalent here judged that a specific tax basis was not constitutional, thus changing the VAT applied and generating some gains from prior periods. Should I report those gains in Retained Earnings / Prior Periods or in the current year P&L? Thanks

asked Apr 10 in General IFRS Discussion by Marcondes

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.