European Union formally adopts amendments to IAS 12
09 Nov, 2023
The European Union has published a Commission Regulation endorsing 'International Tax Reform — Pillar Two Model Rules (Amendments to IAS 12)' issued by the IASB in May 2023.
The IASB published the amendments to IAS 12 Income Taxes to provide a temporary exception to the requirements regarding deferred tax assets and liabilities related to pillar two income taxes.
The Commission Regulation amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council was published in the Official Journal of the European Union on 9 November 2023.
