Deferred Tax related to Assets and Liabilities arising from a Single Transaction - (19-07-2019)
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Introduction
In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 12 Income Taxes. The proposed amendments would require an entity to recognise deferred tax on initial recognition of particular transactions to the extent that the transaction gives rise to equal amounts of deferred tax assets and liabilities. The proposed amendments would apply to particular transactions for which an entity recognises both an asset and a liability, such as leases and decommissioning obligations.
Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002
Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in
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