This project has been completed. In December 2010 the IASB issued amendments to IAS 12 Deferred Tax: Recovery of Underlying Assets .
The original project objective was to resolve problems in practice under IAS 12 Income Taxes, without changing the fundamental approach under IAS 12 and preferably without increasing divergence with US GAAP .
The project originally started as a convergence project with US GAAP. However, in the light of responses to an exposure draft published in 2009, the Board narrowed the scope of the project.
The Board may consider a fundamental review of the accounting for income taxes as part of its agenda consultation process during 2012.
20 December 2010 The IASB published amendments to IAS 12 Deferred Tax: Recovery of Underlying Assets.
3 December 2010 The Board discussed comments received on the September 2010 exposure draft and decided to issue an amendment to IAS 12, subject to written ballot. Click here.
10 September 2010 The IASB published for public comment an exposure draft Deferred Tax: Recovery of Underlying Assets
30 June 2010 The project page for income tax has been reformatted
Click here to read the full update and access the archive of all previous project history.
Last IASB meeting update
03 December 2010
The comment period for the exposure draft Deferred Tax: Recovery of Underlying Assets ended on 9 November 2010.
Click here to view the full update and to access all previous IASB updates on this project.
Click here to listen to the IASB meeting audio playback.
Next discussion by the IASB
The Board will consider a fundamental review of the accounting for income taxes and how to address other practice issues within the scope of this project during its agenda consultation process.
Page last updated: 12 October 2012