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IASB clarifies deferred tax accounting for leases and decommissioning obligations
On 7 May 2021, the IASB issued Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12.
The Amendments narrow the scope of the initial recognition exception under IAS 12 Income Taxes, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences.