EFRAG Endorsement Status Report updated for endorsement of IAS 12
18 August 2022
The European Union has published a Commission Regulation endorsing Amendments to IAS 12 Income Taxes. The Amendments are effective for annual periods beginning on or after 1 January 2023 with earlier adoption allowed.
The Amendments clarify how companies are to account for deferred taxes on transactions such as leases and decommissioning obligations.
The Endorsement Status Report may be accessed here.