EFRAG publishes draft comment letter in response to IASB’s Exposure Draft International Tax Reform - Pillar Two Model Rules (Proposed Amendments to IAS 12)

The IASB issued Exposure Draft International Tax Reform - Pillar Two Model Rules (Proposed Amendments to IAS 12) on 9 January 2023. The Exposure Draft proposes 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 Exposure Draft also proposes the introduction of targeted disclosures.

EFRAG has now published its draft comment letter in response to the Exposure Draft. EFRAG has expressed its support to the IASB’s proposal to introduce the aforementioned temporary exception to the requirements in IAS 12.

Comments on EFRAG’s draft comment letter may be submitted by 27 February 2023.

The draft comment letter may be accessed here.