IAS 12 Classification of interest and penalties that arise from unpaid tax obligations
Date recorded:
Issue
How are interest and penalties that arise from unpaid tax obligations to be classified?
Decision not to add
June 2004
Reason
The IFRIC decided that the disclosure requirements of IAS 12 and IAS 1 Presentation of Financial Statements provide adequate transparency of these items.
IFRIC reference: IAS 12
