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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

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