In this Exposure Draft, the International Accounting Standards Board (IASB) proposes to amend IAS 12 Income Taxes. The proposed amendments would require an entity to recognize 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 recognizes both an asset and a liability, such as leases and decommissioning obligations.
Canadian stakeholders are encouraged to submit their comments to the IASB by November 14.
