NZASB ED 2019-1

  • Not-for-profit
  • Public Sector

Uncertainty over Income Tax Treatments (Proposed amendments to PBE IAS 12)

The New Zealand Accounting Standards Board (NZASB) has published for public comment NZASB ED 2019-1 Uncertainty over Income Tax Treatments (Proposed amendments to PBE IAS 12).

This Exposure Draft (ED) proposes to incorporate into PBE IAS 12 Income Taxes the guidance in NZ IFRIC 23 Uncertainty over Income Tax Treatments.

NZ IFRIC 23 clarifies how to apply the recognition and measurement requirements in NZ IAS 12 Income Taxes when there is uncertainty over income tax treatments. PBE IAS 12 Income Taxes is based on NZ IAS 12. Those public benefit entities (PBEs) that pay income taxes could encounter the issues addressed by NZ IFRIC 23. Therefore, the guidance in NZ IFRIC 23 could be useful for such PBEs.

The NZASB encourages you to read the ED and accompanying Invitation to Comment, and to comment on the proposals.

Send your comments—both formal and informal—by 28 June 2019 to the NZASB using the upload form below.


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