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Monday 23 September 2019

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The IASB approved the due process steps undertaken

 22 July 2015


IAS 12 Income Taxes narrow-scope amendment Recognition of Deferred Tax Assets for Unrealised Losses—Due process steps followed (Agenda Paper 12A)

The IASB met on 22 July to discuss IFRS implementation issues. The IASB reviewed the due process steps undertaken in completing the narrow-scope amendments to IAS 12 on the recognition of deferred tax assets for unrealised losses.

All IASB members agreed that:

  1. the amendments to IAS 12 should be finalised without re-exposure;
  2. the effective date of the amendments should be 1 January 2017 and earlier application should be permitted; and
  3. the due process requirements to date have been complied with.

No IASB members indicated that they intend to dissent from the publication of the final amendments to IAS 12.

Next steps

The IASB plans to issue the final amendments to IAS 12 in Q4 of 2015.


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