On Friday 29 September, the International Accounting Standards Board (IASB) published amendments to the IFRS accounting standard for small and medium-sized enterprises (SMEs), which do not have to publish their accounts. These amendments result from the introduction of the rules of the Pillar II model of the OECD agreement on the minimum taxation of multinationals (see EUROPE B13253A33).
They provide for temporary relief in the recognition of deferred tax. They also state that the...