IASB publishes limited amendments to IAS 12
On 19 January 2016, the IASB issued amendments to IAS 12 - Income taxes entitled Recognition of Deferred Tax Assets for Unrealised Losses.
Keywords: Mazars, Thailand, IFRS, IASB, IAS 12, Income Taxes
11 March 2016
The final text remains faithful to the principles set out in the exposure draft published in August 2014. These amendments aim primarily at clarifying the accounting of deferred tax assets for unrealised losses on debt instruments measured at fair value (in particular through a detailed illustrative example).
Entities are required to apply these amendments for annual periods beginning on or after 1 January 2017. Early application is permitted (subject to their endorsement by the EU).
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