IASB issues amendments to IAS 12 for Pillar Two deferred taxes

On May 23, the IASB issued amendments to IAS 12, Income Taxes, to provide temporary relief from accounting for deferred taxes arising from the Pillar Two model rules published by the Organisation for Economic Co-operation and Development (OECD). New targeted disclosure requirements for companies affected by the Pillar Two model rules are also introduced in the amendments. The disclosures are effective for years beginning on or after January 1, 2023.

For additional information, read our global In brief, Global implementation of Pillar Two: narrow-scope amendments to IAS 12.
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