Exposure Draft and comment letters—Income Tax


The International Accounting Standards Board (IASB) published 31 March 2009 for public comment an exposure draft of a proposed new standard on the accounting for income tax.  If adopted, the standard would replace the existing requirements in IAS 12 Income Taxes.

Although the proposed standard retains the same principle, the IASB proposes to remove most of the exceptions in IAS 12, to simplify the accounting and strengthen the principle in the standard. In addition, the IASB proposes a changed structure for the standard that will make it easier to use.

Comment letter deadline: The exposure draft was open for comment until 31 July 2009. The comment period has now closed

The Boards considered a summary of comment letters on the exposure draft for income tax and indicated that they would consider undertaking a fundamental review of accounting for income taxes at some time in the future. In the meantime, the IASB will consider a limited scope project to amend IAS 12.


Comment letters are public and all comment letters received on the due process document can be accessed below.

If you have trouble finding a specific comment letter, please contact us.

Access individual comment letters in the table below or download all letters as zip file.

ID Submitter

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