IASB Proposes Amendments to IAS 12 – Deferred Tax related to Assets and Liabilities arising from a Single Transaction

The IASB has published an exposure draft for public comment relating to amendments to IAS 12, Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction. The exposure draft amends IAS 12 to clarify whether the initial recognition exemption applies to situations where an asset and a liability are recognised simultaneously in a single transaction, which may occur under IFRS 16, Leases or due to decommissioning obligations in the scope of IAS 37.

The exposure draft can be accessed here.