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Accounting paper on Pillar Two

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IFRS has published a paper on the potential implications of the Pillar Two rules on the accounting for income taxes applying IAS 12 income taxes. The IASB agreed to urgent narrow-scope standard-setting to provide a temporary exception from deferred tax accounting for top-up tax and require companies to provide new disclosures to compensate for the potential loss of information resulting from the temporary exception.

IASB is planning to publish an exposure draft in January 2023 and issue final amendments to IAS 12 during the second quarter of 2023. 

Issue: 1599
Categories: News
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