09/11/2023 - EFRAG Endorsement Status Report - Update
The endorsement by the European Commission of the Amendments to IAS 12 International Tax Reforms - Pillar Two Model Rules is now reflected in the Endorsement Status Report. The updated EFRAG Endorsement Status Report can be found here.
The European Union has published a Commission Regulation endorsing the Amendments to IAS 12 International Tax Reforms - Pillar Two Model Rules.
The objective of the Amendments is to introduce a mandatory temporary exception to the requirements in IAS 12 Income Taxes to recognise and disclose information about deferred tax assets and liabilities arising from the OECD’s Pillar Two Model Rules. The Amendments also introduce targeted disclosure requirements.
The temporary exception will be applicable immediately and retrospectively in accordance with IAS 8, whereas the targeted disclosure requirements will be applicable for annual reporting periods beginning on or after 1 January 2023.
Link to the publication in the Official Journal
of the European Union: here
The updated EFRAG Endorsement Status Report can be downloaded below and under the menu 'Endorsement Status'.
