Uncertainty over Income Tax Treatments — Due Process — Agenda paper 4

Background

The IFRS Interpretations Committee (the ‘IC’) issued a draft Interpretation Uncertainty over Income Tax Treatments in October 2015. The Staff presented their analyses on the comment letters received in the September 2016 IC meeting. The Staff will ask the IC for permission to ballot in this session.

Appendix A to the agenda paper summarises the due process steps taken in developing the Interpretation. The expected timetable for the remaining steps is as follows:

• Commencement of the IC balloting process — December 2016;
• Ratification by the Board — Q1 of 2017;
• Expected issue of the Interpretation — Q2 of 2017.

Staff recommendation                             

The Staff recommends the following:

• Balloting the Interpretation without re-exposure;
• Adopting an effective date of 1 January 2019 for the Interpretation, with earlier application permitted.