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Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) [Research]

Next steps:

The IASB expects to issue an Exposure Draft in June 2019

Last up­dated:

April 2019

Overview

At its meeting on October 24, 2018, the International Accounting Standards Board discussed the IFRS Interpretations Committee’s recommendation to propose a narrow-scope amendment to IAS 12, Income Taxes. The proposed amendment relates to the recognition of deferred tax when an entity accounts for transactions, such as leases or decommissioning obligations, by recognizing both an asset and a liability.

The proposed narrow-scope amendment would narrow the initial recognition exemption in paragraphs 15 and 24 of IAS 12 so that it would not apply to transactions that give rise to both taxable and deductible temporary differences, to the extent the amounts recognized for the temporary differences are the same.

 

Other de­vel­op­ments

April 2019

On April 12, 2019, the IASB® staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in June 2019.

January 2019

On January 25, 2019, the IASB® staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in Q2/2019.

December 2018

On December 14, 2018, the IASB staff has added a new project to the work plan in respect of amendments to IFRS 17, in­di­cating that the Board ex­pects to is­sue an Ex­po­sure Draft in the first half of 2019.

November 2018

In No­vem­ber 2018, the IASB staff up­dated the work plan to in­di­cate that the IASB ex­pects to is­sue an Ex­po­sure Draft in re­spect of the nar­row-scope amend­ment to IAS 12 in the first half of 2019.

 

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