Multinational Top-up Tax and Domestic Top-up Tax

MTT09510 - Miscellaneous pages: Accounting terms: Acceptable accounting standards

Acceptable accounting standards include International Financial Reporting Standards and the generally accepted accounting practices and principles of the following territories:

• Australia
• Brazil
• Canada
• the People’s Republic of China
• a European Economic Area (EEA) state
• the Hong Kong Special Administrative Region of the People’s Republic of China
• India
• Japan
• Mexico
• New Zealand
• the Republic of Korea
• Singapore
• Switzerland
• the United Kingdom, and
• the United States of America.

This is set out in Section 250 of Finance (No.2) Act 2023.