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Hi everyone,
We have a concession contract where we are main contractor and partner in the SPV, there is confusion of cost and revenue recognition at consolidated level, where during construction we believe to recognize revenue according to IFRS15, and same time we capitalize this cost at consolidated level.
Question is, construction margin shall be subject to CIT, or if we can capitalize and recognize the CIT on the financial income as SPV?
Thanks,
Mostafa
We have a concession contract where we are main contractor and partner in the SPV, there is confusion of cost and revenue recognition at consolidated level, where during construction we believe to recognize revenue according to IFRS15, and same time we capitalize this cost at consolidated level.
Question is, construction margin shall be subject to CIT, or if we can capitalize and recognize the CIT on the financial income as SPV?
Thanks,
Mostafa