The IASB held a supplementary meeting on 3 May 2023. The following topic was discussed:

International Tax Reform—Pillar Two Model Rules: In this meeting, the IASB considered an amendment to the IFRS for SMEs Accounting Standard resulting from the upcoming amendment to IAS 12 titled International Tax Reform—Pillar Two Model Rules. The IASB decided to propose an amendment to Section 29 Income Tax of the IFRS for SMEs Accounting Standard with consequential amendments to Section 35 Transition to the IFRS for SMEs. The IASB also decided to ask approval from the IFRS Foundation Due Process Oversight Committee for a shortened comment period of 45 days for the Exposure Draft (ED).