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Wednesday 15 July 2020

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Exposure Draft [August 2014]

Exposure Draft [August 2014]

Exposure Draft and comment letters

The International Accounting Standards Board (IASB) today published proposed amendments to IAS 12 Income Taxes.

IAS 12 addresses the accounting for income taxes, including deferred tax assets.  The amendments published today propose guidance that clarifies how to account for deferred tax assets related to debt instruments measured at fair value. 

The draft amendments are proposed in response to diversity in practice and are relevant in circumstances in which the entity reports tax losses.

The issue originated from a submission to the IFRS Interpretations Committee (the ‘Interpretations Committee’).  In response, the Interpretations Committee recommended that the IASB should amend IAS 12.

Comment letter deadline

The comment period for this Exposure draft ended 18 December 2014.

Please note: when submitting a comment letter or when communicating with the IFRS Foundation, the IASB or any of its constituent bodies, you acknowledge and accept the IFRS Foundation Written Communication policy which details how we use and process your data.

View the Comment letters.


Due process documents
Exposure Draft Recognition of Deferred Tax Assets for Unrealised Losses (Proposed amendments to IAS 12) [PDF]
Exposé-sondage Comptabilisation d’actifs d’impôt différé au titre de pertes latentes (projet de modification d’IAS 12) [PDF] (French) (Date limite de réception des commentaires le 18 décembre 2014)
Proyecto de Norma Reconocimiento de Activos por Impuestos Diferidos por Pérdidas no Realizadas (Modificaciones propuestas a la NIC 12) [PDF] (Spanish) (Recepción de comentarios hasta el 18 de diciembre de 2014)
公開草案: 未実現損失に係る繰延税金資産の認識IAS第12号の修正案 [PDF] (Japanese) (コメント期限:2014年12月18日)

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April Pitman
Senior Project Manager