Schedule 29 - Gains and losses of a company from intangible fixed assets

Part of Finance Bill – in a Public Bill Committee at 9:45 am on 13th June 2002.

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Photo of Michael Jack Michael Jack Conservative, Fylde 9:45 am, 13th June 2002

The Minister mentioned accounting practices. I wonder whether he will say a few words about the international dimension. It is clear, post-Enron, that there are significant differences in accounting standards and accounting definitions between, for instance, the United Kingdom and the United States, which may cause problems for multinational and international companies. I wonder whether such conflicts will be resolvable under the proposals.