Introduction 

In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 12 Income Taxes. The proposed amendments would require an entity to recognise 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 recognises both an asset and a liability, such as leases and decommissioning obligations.

Invitation to comment

 ASB invites comments on the Exposure Draft from the public. 

How to comment

Comments should be submitted using one of the following methods, so as to be received not later than September 30, 2019.

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in