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Uncertainty over income tax treatments (IFRIC 23)
This publication summarises the key implications of IFRIC 23 Uncertainty over Income Tax Treatments.
IAS 12 Income Taxes does not specify how uncertainty in tax treatments is reflected in the measurement of current and deferred tax assets and liabilities. As a result, this has led to diversity in practice. Accordingly, the IFRS IC developed IFRIC 23 Uncertainty over Income Tax Treatments (IFRIC 23 or the Interpretation) to address how to reflect uncertainty in the recognition and measurement of income taxes. This publication sets out our views on the requirements in the Interpretation and explains certain concepts that might be helpful to entities when they first apply IFRIC 23.