The IASB issued an update to IAS12 to include a mandatory temporary exception from providing for deferred tax on anticipated top-up taxes as jurisdictions implement the various elements of the OECD’s global minimum tax regime ‘Pillar Two’. Alongside the temporary exception to recognition IAS12 was updated to set out what is and is not required with regard to disclosure.
The first UK groups required to reflect the updated IAS12 in their financial statements are those with a calendar year-end reporting their YE23...
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The IASB issued an update to IAS12 to include a mandatory temporary exception from providing for deferred tax on anticipated top-up taxes as jurisdictions implement the various elements of the OECD’s global minimum tax regime ‘Pillar Two’. Alongside the temporary exception to recognition IAS12 was updated to set out what is and is not required with regard to disclosure.
The first UK groups required to reflect the updated IAS12 in their financial statements are those with a calendar year-end reporting their YE23...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: