Overview

At its meeting in November 22-24, 2022, the IASB tentatively decided to propose amendments to IAS 12, Income Taxes. The proposed amendments would introduce a temporary exception from accounting for deferred taxes arising from the implementation of the OECD’s Pillar Two model rules, as well as targeted disclosures for affected entities.

On Jan­u­ary 9, 2023, the IASB pub­lished an Ex­po­sure Draft, In­ter­na­tional Tax Re­form — Pil­lar Two Model Rules (Pro­posed amend­ments to IAS 12) to re­spond to stake­hold­ers’ con­cerns about the po­ten­tial im­pli­ca­tions of the im­mi­nent im­ple­men­ta­tion of the OECD pil­lar two model rules on the ac­count­ing for in­come taxes. Com­ments are re­quested by March 10, 2023.

On January 24, 2023, the AcSB issued an Exposure Draft which corresponds to the one issued by the IASB, Comments are also requested by the AcSB for March 10, 2023.

For further details refer to the IASB’s project page.

Other developments

January 2023

On January 30, 2023, the IASB staff updated the work plan to indicate that the Board plans to review the Exposure Draft feedback in April 2023.

On January 24, 2023, the AcSB issued an Exposure Draft which corresponds to the one issued by the IASB, Comments are also requested by the AcSB for March 10, 2023.

On January 9, 2023, the IASB published an exposure draft International Tax Reform — Pillar Two Model Rules (Proposed amendments to IAS 12) to respond to stakeholders’ concerns about the potential implications of the imminent implementation of the OECD pillar two model rules on the accounting for income taxes. Comments are requested by March 10, 2023.

November 2022

At its meeting on November 22-24, 2022, the IASB decided to add a new project to its Work Plan in respect of this item.