Exposure Draft and comment letters
The International Accounting Standards Board (IASB) today published proposed amendments to IAS 12 Income Taxes.
IAS 12 addresses the accounting for income taxes, including deferred tax assets. The amendments published today propose guidance that clarifies how to account for deferred tax assets related to debt instruments measured at fair value.
The draft amendments are proposed in response to diversity in practice and are relevant in circumstances in which the entity reports tax losses.
The issue originated from a submission to the IFRS Interpretations Committee (the ‘Interpretations Committee’). In response, the Interpretations Committee recommended that the IASB should amend IAS 12.
Comment letter deadline
The comment period for this Exposure draft ended 18 December 2014.
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View the Comment letters.