UKEB call for comments on Draft Endorsement Criteria Assessment of International Tax Reform

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Published: 28 June 2023

The UKEB has published a Draft Endorsement Criteria Assessment (DECA) on International Tax Reform: Pillar Two Model Rules (Amendments to IAS 12). On 23 May 2023 the IASB published amendments to IAS 12 Income Taxes (the Amendments) providing a mandatory temporary exception, applicable immediately and retrospectively, from deferred tax accounting in relation to Pillar Two top-up taxes.

Entities must disclose that they have applied that exception. There are also additional disclosure requirements which are applicable for annual periods beginning on or after 1 January 2023.

The UKEB invites stakeholders’ views on the conclusions in the DECA on the potential UK adoption of the Amendments.

The Invitation to Comment and Your Details document can be accessed here.

The DECA can be accessed here and is open for stakeholder comments until close of business on 10 July 2023.

Responses should be emailed to [email protected].

Visit the UKEB website for more information on the UKEB’s approach to this project.

Other UKEB Consultations Open for Comment:
Draft Comment Letter for Amendments to the Classification and Measurement of Financial Instruments
Responses should be emailed to [email protected]. Click here for further details. Stakeholder comments are welcome until close of business on 26 June 2023.
Draft Comment Letter for International Sustainability Standards Board (ISSB) Request for Information (RfI)
Responses should be emailed to [email protected]. Click here for further details. Stakeholder comments are welcome until close of business on 25 July 2023.
Documents referenced in this news alert can be found on the UKEB website.