EFRAG has not yet received from the European Commission the letter requesting an endorsement advice in respect of the Amendments as such letter will be sent only following the issuance of the Amendments, expected in May 2023.  Considering the tight timeline of the forthcoming due process, EFRAG is issuing, instead of its usual draft endorsement advice, a preparatory document for comments in anticipation of the endorsement advice, on the basis of the content of the Exposure Draft of the Amendments and the discussions held by the International Accounting Standards Board (IASB) on 11 April 2023 when the IASB decided to finalise the amendments to IAS 12.

Provided that the final content of the Amendments is not substantially different than the contents of the ED and the decisions taken by the IASB in April 2023, the preparatory document will be used in the preparation of EFRAG’s Final Endorsement Advice.

EFRAG's overall preliminary assessment is that the Amendments satisfy the criteria for endorsement for use in the EU and therefore recommends their endorsement.

Comments are requested by 24 May 2023.

For more information, see the press release on the EFRG website.