ECONOMY - FINANCE - BUSINESS / Taxation

IASB confirms temporary relief from deferred tax accounting following OECD agreement

Brussels, 12/04/2023 (Agence Europe)

On Tuesday 11 April, the International Accounting Standards Board (IASB) decided to finalise amendments to the IAS 12 accounting standard, in accordance with the Pillar Two model rules published by the Organisation for Economic Co-operation and Development (OECD).

This standard prescribes the accounting treatment for current and deferred income taxes to reflect the full tax effects of transactions recognised in the period.

These amendments, approved in a special supplementary meeting, will...