IAS 29 – Financial Reporting in Hyperinflationary Economies and IAS 12 – Income Taxes

Following its June redeliberations, the IASB reached the following tentative decisions:

Keywords: Mazars, Thailand, IASB, redeliberation, IAS 29

3 August 2023

An entity that applies IAS 29 shall present the gain or loss on the net monetary position in the operating category of profit or loss, if the entity presents that gain or loss in a single line item.
Foreign exchange differences arising from assets and liabilities that fall within the scope of IAS 12 (e.g. deferred tax assets and liabilities), and that are recognised in profit or loss in accordance with IAS 21, would be classified in the income tax category unless this would involve undue cost or effort for the issuer.