IASB issues exposure draft 2020/2: COVID-19 related rent concessions, proposed amendments to IFRS 16
30 April 2020
On 24 April 2020, the IASB has issued an exposure draft to amend IFRS 16 related to COVID-19 rent concessions for lessees. The exposure draft has a two week comment period ending on 8 May 2020.
The exposure draft amends the requirements of IFRS 16 to permit lessees to not apply modification accounting to certain leases where the contractual terms have been affected due to COVID-19 (e.g. rent holidays or other rent concessions).
BDO has issued an IFRB on the topic of the potential amendments to IFRS 16, which is available here. The exposure draft may be accessed here.