Global Standards for the world economy

Thursday 30 March 2017

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Annual Improvements

Annual improvements cycle 2015-2017

The International Accounting Standards Board (the Board) has published proposed amendments to three Standards for public consultation as part of its annual improvements process.

The document contains proposed amendments to IAS 12 Income Taxes, IAS 23 Borrowing Costs and IAS 28 Investments in Associates and Joint Ventures.

The proposed amendments to IAS 12 clarify that an entity should account for all income tax consequences of dividends in the same way, regardless of how the tax arises.

The Board also proposes to amend IAS 23 to clarify which borrowing costs are eligible for capitalisation as part of the cost of an asset in particular circumstances.

The proposed amendments to IAS 28 clarify that an entity should apply IFRS 9 Financial Instruments to long-term interests in an associate or joint venture to which it does not apply the equity method.

Due process documents
Exposure Draft: Annual Improvements to
IFRS® Standards 2015–2017 Cycle
公開草案: IFRS® 基準の年次改善 2015-2017年サイクル [PDF]
Exposé-sondage: Améliorations annuelles des normes IFRS® Cycle 2015–2017 [PDF]
Proyecto de Norma: Mejoras Anuales a las Normas NIIF® Ciclo 2015–2017 [PDF]

Comment letter deadline

The Exposure Draft is open for comments until 12 April 2017.

All comment letters should be submitted via the online upload page below. Please refrain from sending comment letters to IASB or IFRS Foundation individuals as this risks duplication and may cause delays in the posting of letters onto the website. Board and staff members have access to all comment letters submitted via the online upload page. You must be an eIFRS Basic user to submit a comment letter. Registration is free, and you can register here.

Submit a comment letter.

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If you have any issues with the comment letter process, please email

View the comment letters.




Craig Smith
Technical Associate