IASB proposes amendment to IFRS 16 for COVID-19 related rent concessions

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EY Global IFRS

17 Apr 2020 PDF
Categories Leases

On 17 April 2020, the IASB held a supplementary meeting to discuss IFRS 16 and rent concessions granted by lessors due to the COVID-19 pandemic.

At this meeting, the IASB voted to propose amendments to IFRS 16 Leases to provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a result of the COVID-19 pandemic.

An Exposure Draft of the amendments is expected to be issued shortly, with a comment period of 14 days from the date of issue.