IASB proposes amendments to IAS 12

• The proposed amendments would clarify that unrealised losses on debt instruments measured at fair value and measured at cost for tax purposes can give rise to deductible temporary differences.
• The proposed amendments would also clarify that the carrying amount of an asset does not limit the estimation of probable future taxable profits. It would specify that, when comparing deductible temporary differences with future taxable profits, the future taxable profits would exclude tax deductions resulting from the reversal of those deductible temporary differences.
• Comments on the proposals are due by 18 December 2014.

    Back to IFRS News