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.
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- Full-text standard
- Guidance and support from ICAEW
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- Online articles
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Full text standard
Unaccompanied version of IAS 12
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.
This unaccompanied version does not include additional content that accompanies the full standard, 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.
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.
IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires collected by the ICAEW Library.
Company Reporting (Croner-i)
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IFRS 2018: Interpretation and application of IFRS standards
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:
|17 July 2019||IASB proposes amendments to accounting for deferred tax
News release issued by the IASB on 17 July 2019 announcing the Exposure Draft Deferred Tax related to Assets and Liabilities arising from a Single Transaction.
|7 June 2017||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.
|12 January 2017||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.
|19 January 2016||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.
|21 October 2015||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.
|20 August 2014||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’.
Guides and publications
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 2014
Guide published by PwC in February 2014 covering new standards and interpretations, including amendments to IAS 12 on deferred tax accounting for investment property at fair value.
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.
Articles are available to logged-in ICAEW members, ACA students and other entitled users.
Articles and books in the Library collection
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