|
|
IAS 12 provides requirements on the recognition and measurement of current or deferred tax liabilities or assets. The amendments issued today clarify the requirements on recognition of deferred tax assets for unrealised losses, to address diversity in practice.
Entities are required to apply the amendments for annual periods beginning on or after 1 January 2017. Earlier application is permitted.
The amendments to the Standard follow on from a recommendation by the International Financial Reporting Interpretations Committee (the Interpretations Committee).