A concise overview of IFRS 18, outlining key presentation changes, new mandatory disclosures and transition requirements effective from 2027.
IFRS 18 introduces a new structure for financial statements, replacing IAS 1 and enhancing transparency in financial reporting. The standard, effective from 1 January 2027, adds new profit subtotals, clearer categories for income and expenses, and stricter disclosure requirements. Learn how your organization can prepare for IFRS 18 with insights from Grant Thornton.
Grant Thornton’s IFRS Example Consolidated Financial Statements 2025 offers practical guidance for preparing IFRS-compliant financial statements.
A landmark Curaçao Supreme Court case may redefine when company directors can be held personally liable for unpaid corporate taxes. Learn what this means for business leaders.
Curaçao’s tax system reveals a significant imbalance in its treatment of taxpayers particularly businesses that overpay profit tax. While the authorities strictly enforce deadlines for filing and payment, requiring both provisional and final returns to be submitted on time, the same urgency is not applied when it comes to issuing refunds. Despite a legal obligation to process refunds within six months, the Tax Authorities routinely exceed this period. Businesses are often left waiting indefinitely, with minimal communication and little transparency. As a result, many are forced to file formal objections or pursue legal action just to recover funds that are rightfully theirs. Even when refunds are approved, actual payment is frequently delayed by the Receiver’s Office, compounding frustration and financial strain. This asymmetry places an unfair burden on compliant taxpayers and undermines trust in the system’s fairness and efficiency.