SIC 25 - Changes in the Tax Status of an Enterprise or its Shareholders
Published July 2000. Effective 15 July 2000.
Contents
Free to view
- Synopsis (including link to unaccompanied version of SIC 25)
- IFRSs referred to
Financial Reporting Faculty members only
Synopsis
SIC 25 concludes that a change in the tax status of an entity or its shareholders does not give rise to increases or decreases in amounts recognised in equity.
It therefore requires that the current and deferred tax consequences of a change in tax status are included in profit or loss for a period, unless they relate to transactions recognised directly in equity or as other comprehensive income. Where tax consequences do relate to transactions recognised directly in equity or as other comprehensive income, then they too are recognised directly in equity or as other comprehensive income.
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.
Which version of the interpretation?
Financial Reporting Faculty members who joined the faculty prior to 1 November 2022 have premium access to the consolidated edition of IFRS and amendments through the IASB's IFRS Standards Navigator service. Please log into IFRS Standards Navigator to access electronic versions of the standards through these links.
Please be aware that as part of the changes to ICAEW faculty membership, this service will be withdrawn after 31 December 2022.
IFRSs referred to by SIC 25
- IAS 1 Presentation of Financial Statements
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 12 Income Taxes
This page was last updated 4 February 2022
How standards trackers work
Corporate Reporting Faculty members get full access.
ICAEW members and non-members can view a brief synopsis, amendments and details of current proposals.