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Deloitte comment letter on the IASB's proposal to extend the practical relief regarding COVID-19-related rent concessions

Published on: 24 Feb 2021

We have commented on IASB exposure draft ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16), which was published by the IASB on 11 February 2021. The exposure draft proposes to extend the May 2020 amendment that provides lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification.

We support the extension of the availability of the practical expedient so that it applies to rent concessions that affect payments originally due on or before 30 June 2022 instead of 30 June 2021, for the reasons stated in the basis of conclusions on the exposure draft. We also agree with the proposed effective date and transition provisions.

Please click to download our full comment letter below.


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