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If a law is expected to or about to come regarding the payment of penalties on pollution after the yr end,do we take it as a provision this yr?
If yes,then why bcz isnt it aviodable by selling off the subsidiary?Thanks
In your question, it isn’t clear whether it’s the law which is scheduled for after the year end or the pollution.
If it’s the pollution which is to be caused after the year end, then no provision – the obligation will not be as a result of some past event.
But if it’s the law which is to be passed after the year end, and which presumably to operate retrospectively, then the past event is the causing of the pollution and thus a provision is appropriate
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