IASB decides to propose amendments to IFRS 18 related to presentation of taxes
IASB decides to propose amendments to IFRS 18 related to presentation of taxes
The International Accounting Standards Board (IASB), in its July 2026 meeting, has agreed to propose amendments to IFRS 18 Presentation and Disclosure in Financial Statements related to presentation of taxes. The proposed amendments would require a tax charge imposed as a direct substitute for an income tax to be classified in the income taxes category of the statement of profit or loss. This would apply where legislation specifies that a company is required or can elect to pay a specified tax charge instead of an income tax.
The exposure draft is expected to be published in the fourth quarter of 2026.
In the same meeting, the IASB also completed its discussion of feedback on the Post-implementation Review of IFRS 16 Leases. In response to stakeholder feedback on the ongoing costs of applying some requirements, the IASB has decided to undertake a project focussed on remeasurements of lease liabilities and discount rates to explore how the ongoing costs of application can be reduced. The project will also include clarifications on the application of the requirements of IFRS 16 and IFRS 9 Financial Instruments to some rent concessions.
More information is available here.
The exposure draft is expected to be published in the fourth quarter of 2026.
In the same meeting, the IASB also completed its discussion of feedback on the Post-implementation Review of IFRS 16 Leases. In response to stakeholder feedback on the ongoing costs of applying some requirements, the IASB has decided to undertake a project focussed on remeasurements of lease liabilities and discount rates to explore how the ongoing costs of application can be reduced. The project will also include clarifications on the application of the requirements of IFRS 16 and IFRS 9 Financial Instruments to some rent concessions.
More information is available here.