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IFRIC 23 – Uncertainty over income tax treatments
The IASB has issued IFRIC 23 to address uncertainty in accounting for income taxes. It is effective for periods beginning 1 January 2019.
In June 2017, the International Accounting Standards Board (IASB or the Board) issued IFRIC Interpretation 23 — Uncertainty over Income Tax Treatments (the Interpretation), which is applicable for annual periods beginning on or after 1 January 2019. The Interpretation clarifies application of recognition and measurement requirements in IAS 12 Income Taxes when there is uncertainty over income tax treatments. We discuss the implications further in this publication.