Re­verse fac­to­ring is an in­cre­asin­gly po­pu­lar op­tion for pre-fi­nan­cing a com­pany's suppliers. In con­trast to con­ven­tio­nal fac­to­ring, the in­itia­tive co­mes from the cu­st­omer and not from the supplier. In this no­vus IFRS, we in­form you about how the IDW, with the draft amend­ment IAS 1-M1 (Re­verse Fac­to­ring) to IDW RS HFA 50, has cla­ri­fied the ques­ti­ons of whe­ther the pre­vious ob­li­ga­tion from de­li­ve­ries and ser­vices is to be de­re­co­gnized or whe­ther it is to be In ad­di­tion, we will pro­vide you with in­for­ma­tion on the la­test de­ve­lop­ments in the field of fi­nan­cial re­por­ting. In ad­di­tion, we pre­sent the la­test IASB pu­bli­ca­ti­ons "Sub­si­dia­ries not pu­bli­cly ac­coun­ta­ble: Dis­clo­sures in the no­tes" and "First-time ad­op­tion of IFRS 17 and IFRS 9 - Com­pa­ra­tive in­for­ma­tion".

The IFRS In­ter­pre­ta­ti­ons Com­mit­tee (IFRS IC) has ad­dres­sed the spe­ci­fics of ac­coun­ting for con­fi­gu­ra­tion and cu­st­omiza­tion costs in soft­ware-as-a-ser­vice (SaaS) ar­ran­ge­ments. In this edi­tion of no­vus IFRS, we in­form you about the re­sults of the de­li­be­ra­ti­ons on this to­pic as well as about other im­port­ant to­pics that the stan­dard set­ters dealt with in the se­cond quar­ter of 2021.

Since 1 July 2020, cer­tain cross-bor­der tax ar­ran­ge­ments must be re­por­ted to the Ger­man tax aut­ho­ri­ties (DAC6 re­por­ting ob­li­ga­ti­ons). Af­ter publis­hing the draft of a let­ter of in­ter­pre­ta­tion in July 2020, Ger­many’s Fe­deral Mi­nis­try of Fi­nance (BMF) un­vei­led the fi­nal ver­sion on 29 March 2021.

In a let­ter da­ted 6 No­vem­ber 2020, the Fe­deral Mi­nis­try of Fi­nance (BMF) com­men­ted on an in­ter­pre­ta­tion of Ger­man li­mited tax lia­bi­lity on roy­alty pay­ments, an is­sue that has emer­ged as con­tro­ver­sial in the re­cent past. The BMF’s le­gal po­si­tion may have si­gni­fi­cant con­se­quen­ces for in­ter­na­tio­nally ope­ra­ting groups of com­pa­nies. The ea­sing of the le­gal re­qui­re­ment that had been ori­gi­nally plan­ned no lon­ger ap­pears to be on the cards.