At its meeting on July 18, 2017, the IASB discussed feedback on the proposed amendments to IAS 12, Income Taxes. The Board tentatively decided to finalize the proposed amendments with no substantive changes, and to require an entity to apply the amendments to income tax consequences of dividends recognized on or after the beginning of the earliest reporting period presented. The IASB also discussed the IFRIC’s recommendations on the proposed amendments to IAS 23. The Board tentatively decided to finalize the proposed amendments with no substantive changes, and to clarify that an entity also includes funds borrowed specifically to obtain an asset other than a qualifying asset as part of its general borrowings. The Board will consider the effective date and due process steps at a future meeting.

Review the IASB Update and the related podcast on the IASB's Web site.