Global Standards for the world economy

Wednesday 18 September 2019

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Income Taxes

Exposure draft [Mar 2009]


 Exposure draft and comment letters


The International Accounting Standards Board (IASB) published 31 March 2009 for public comment an exposure draft of a proposed new standard on the accounting for income tax.  If adopted, the standard would replace the existing requirements in IAS 12 Income Taxes.

Although the proposed standard retains the same principle, the IASB proposes to remove most of the exceptions in IAS 12, to simplify the accounting and strengthen the principle in the standard. In addition, the IASB proposes a changed structure for the standard that will make it easier to use.

Comment letter deadline: The exposure draft was open for comment until 31 July 2009 . The comment period has now closed

The Boards considered a summary of comment letters on the exposure draft for income tax and indicated that they would consider undertaking a fundamental review of accounting for income taxes at some time in the future. In the meantime, the IASB will consider a limited scope project to amend IAS 12.  Click here for more information.

Access the due process documents


Due process document Accompanying material
Exposure Draft:  Income Tax [English] [PDF] Basis for Conclusions[PDF] 
Draft flow chart and illustrative examples [PDF]
Expos�-sondage: Imp�t sur le r�sultat [French][PDF]