SHOW SECTIONS

Current stage

The Board expects to issue the amendments in the second quarter of 2021.

IASB® Update November 2020

The Board discussed the effective date for the amendments to IAS 12 Income Taxes. The Board also discussed due process, including permission to begin the balloting process.

The amendments narrow the scope of the recognition exemption in paragraphs 15 and 24 of IAS 12 so that it would not apply to transactions that give rise to equal and offsetting temporary differences.

Effective date

The Board tentatively decided that entities should apply the amendments for annual periods beginning on or after 1 January 2023, with earlier application permitted.

All 13 Board members agreed with this decision.

Due process

The Board agreed that the amendments do not require re-exposure.

All 13 Board members agreed with this decision.

All 13 Board members confirmed they were satisfied the Board has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the process for balloting the amendments.

No Board member indicated an intention to dissent from the issuance of the amendments.

Next milestone

IFRS Amendment


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