IASB proposes amendments to IAS 12 regarding accounting for deferred tax

Publication date: 23 Jul 2019

The amendments clarify how companies account for deferred tax on leases and decommissioning obligations.

IAS 12 specifies how a company accounts for income tax, including deferred tax, which represents amounts of tax payable or recoverable in the future.

In specific circumstances, companies are exempt from recognising deferred tax when they recognise assets or liabilities for the first time. There has been some uncertainty in the market about whether the exemption applies to leases and decommissioning obligations. The exposure draft 'Deferred tax related to assets and liabilities arising from a single transaction' is open for comment until 14 November 2019.

pdf Deferred tax related to assets and liabilities arising from a single transaction

 
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