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.
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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 IFRS such as illustrative examples, implementation guidance and bases for conclusions.
IAS 12 – Income Taxes
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
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.
IFRS checklists and model financial statements
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IFRS 2017: Interpretation and application of IFRS standards
Erwin Bakker (2017)
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on income taxes covers:
International Accounting Standards Board issues Interpretation on IAS 12 Income Taxes
Press release issued by the IFRS Foundation on 7 June 2017 announcing the publication of IFRC 23 Uncertainty over Income Tax Treatments.
International Accounting Standards Board consults on clarifications to IFRS Standards
Press release issued on 12 January 2017 by the IASB announcing proposed amendments to IAS 12, IAS 23 and IAS 28 as part of its annual improvements process.
IASB issues narrow-scope amendments to IAS 12 Income Taxes
Press release from the IASB, issued on 19 January 2016, announcing the publication of amendments Recognition of Deferred Tax Assets for Unrealised Losses.
The IFRS Interpretations Committee proposes two new Interpretations
Press release from the IASB, issued on 21 October 2015, announcing draft interpretations on IAS 12 and IAS 21 that address uncertainty over income tax treatments and advance consideration of foreign currency transactions.
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’.
Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.
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.
Deferred tax – a Chief Financial Officer's guide to avoiding the 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.
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).
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