IFRS 16 COVID-19 Related Rent Concessions Amendment: PwC In depth INT2020-05

Publication date: 19 Jun 2020

adobe_pdf_file_icon_32x32In depth - IFRS 16 COVID-19 Related Rent Concessions Amendment

As a result of the coronavirus (COVID-19) pandemic, rent concessions have been granted to lessees. Such concessions might take a variety of forms, including payment holidays and deferral of lease payments. On 28 May 2020, the IASB published an amendment to IFRS 16 that provides an optional practical expedient for lessees from assessing whether a rent concession related to COVID-19 is a lease modification. Lessees can elect to account for such rent concessions in the same way as they would if they were not lease modifications. In many cases, this will result in accounting for the concession as variable lease payments in the period(s) in which the event or condition that triggers the reduced payment occurs.

 
close
  • Add Selected section
  • OR
  • Add Full document
  • Print Selected section
  • OR
  • Print Full document
  • Copy link
  • Add to my favourites
close

Warning, this action will download the whole document into PDF format.

Cancel
close

Warning, this action will add the whole document to my documents.

Cancel
Back to top