IESBA Issues Q&A on Tax Planning and Related Services Standards

Posted 21 May 2025 Written by Acts Online
Category Comment

Brought to you by SA Accounting Academy: The International Ethics Standards Board for Accountants (IESBA) has released a Questions and Answers (Q&A) publication to support the global adoption and implementation of the new Tax Planning and Related Services Standards.

In terms of the International Code of Ethics for Professional Accountants (including International Independence Standards), the IESBA has issued these guidelines to provide a principles-based framework for professional accountants. The Tax Planning and Related Services Standards, which were finalized in April 2024, establish a global ethical benchmark for accountants in public practice and in business when they provide tax planning services or perform tax planning activities.

The Q&A publication is designed to highlight and explain specific aspects of the standards, complementing the Basis for Conclusions for the final pronouncement. It serves as a resource for various stakeholders, including:

  • Professional accountants in public practice and business;
  • Jurisdictional standard setters and professional accountancy organizations;
  • Tax authorities and the corporate governance community; and
  • Investors and business preparers.

The Tax Planning and Related Services Standards are scheduled to come into effect on 1 July 2025. The 13-page Q&A document addresses the scope of the standards, the ethical responsibilities of accountants when providing tax advice, and the interaction between these standards and other sections of the IESBA Code.

What this means for you, your business, or your clients

  • For yourself: You must review the new ethical requirements to ensure that any tax planning advice or activities you perform after 1 July 2025 comply with the updated principles-based framework and the ‘stand-back’ test.
  • For your business: Your firm should update its internal compliance manuals and professional development programmes to reflect the global ethical benchmark for tax services and ensure all staff are prepared for the 2025 implementation date.
  • For your clients: You should advise clients that tax planning strategies will be subject to more rigorous ethical oversight, which may require more robust justification and documentation for complex tax structures to meet the new global standard.

Originally published at https://accountingacademy.co.za/news/read/iesba-q-as-on-the-tax-planning-and-related-services-standards-in-the-iesba-code

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.