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Deloitte comment letter on ED/2009/2 'Income Tax'

Published on: 31 Jul 2009

We acknowledge the Board’s objectives in its income tax project to address the significant practical and conceptual issues arising under IAS 12 Income Taxes and achieve closer convergence with United States Generally Accepted Accounting Principles (US GAAP).

However, we question whether these objectives have been met in the ED. We believe clear principles have not been established and articulated in the ED. Furthermore, many of the proposals are ambiguous or produce counterintuitive outcomes which are difficult to reconcile from a conceptual viewpoint.

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