IASB issues amendments to the IFRS for SMEs Accounting Standard related to international tax reform
IASB issues amendments to the IFRS for SMEs Accounting Standard related to international tax reform
The IASB has issued amendments to the IFRS for SMEs Accounting Standard (the Standard)– International Tax Reform – Pillar Two Model Rules.
The amendments are based on the amendments to IAS 12 Income Taxes issued in May 2023. The amendments:
The amendments may be accessed here.
The amendments are based on the amendments to IAS 12 Income Taxes issued in May 2023. The amendments:
- provide a temporary relief from accounting for deferred taxes arising from the implementation of the Pillar Two model rules; and
- clarify that the Standard requires companies that apply the Standard to disclose information that enables users of their financial statements to evaluate the nature and financial effect of income tax consequences of the Pillar Two legislation.
The amendments may be accessed here.