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.
The Exposure Draft was open for comment until 12 April 2017.