BDO releases IFRB 2023/04 IASB issues Amendments to IAS 12 – International Tax Reform – Pillar Two Model Rules
12. Juni 2023
The IASB recently published International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12). These amendments are issued in response to stakeholders’ concerns about the uncertainty over the accounting for deferred taxes arising from the implementation of OECD’s Pillar Two model rules. The amendments introduce a temporary mandatory exception to the accounting for deferred taxes arising from jurisdictional implementation of the Pillar Two model rules. The amendments also provide targeted disclosure requirements to help investors better understand a company’s exposure to income taxes arising from the reform, particularly before legislation implementing the rules is in effect. The amendments are effective immediately and retrospectively.
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