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IAS 12: Income taxes

The accounting standard IAS 12 sets out the accounting treatment for income taxes, including all domestic and foreign taxes which are based on taxable profits and those payable by a subsidiary, associate or joint venture on distributions to the reporting entity. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

What's on this page?

  • Full-text standard
  • Summaries
  • Guidance and support from ICAEW
  • IASB news
  • Guides
  • Online articles
  • Articles and books from the Library

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Full-text standard

The IFRS Foundation and International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website; you will need to register to gain access.

These standards are the unaccompanied versions and do not include any additional content that accompanies the full IAS and IFRSs such as illustrative examples, implementation guidance and bases for conclusions.

Summaries

IAS 12 Income Taxes
IASB technical summary, as issued at 1 January 2014.

IAS 12 – Income Taxes
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.

Taxation
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

IASB news

IASB publishes proposed amendments to IAS 12 Income Taxes
Press release issued by the IASB on 20 August 2014 announcing an exposure draft ‘Recognition of Deferred Tax Assets for Unrealised Losses’.

IASB issues amendments to IAS 12 Income Taxes
Press release from the IASB, issued on 20 December 2010, announcing the amendment ‘Deferred Tax: Recovery of Underlying Assets’.

Guides and publications

A practical guide to new IFRSs for 2013
Guide published by PwC in March 2013 covering new standards and interpretations, including amendments to IAS 12 on deferred tax accounting for investment property at fair value.

Deferred tax on investment properties at fair value – amendment to IAS 12
Practical guide from PwC, published in January 2011, examines the implications of the amendment and offers worked examples.

Briefing sheet: issue 229 – Amendments to IAS 12 – deferred tax on investment property
KPMG bulletin published in December 2010 summarising the amendments.

A CFO's guide to avoiding deferred tax pitfalls
Guide from Grant Thornton that illustrates the IAS 12 approach to calculating deferred tax balances.

Examination of the conformity between IAS 12 and the European Accounting Directives
Comparison document issued by the European Commission in 1997.

Other resources

IFRS Learning
Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.

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