IFRIC 23 clarifies the accounting treatment for uncertain income tax treatments

IFRIC 23 clarifies the accounting treatment

On 7 June 2017, the International Financial Reporting Standards (IFRS) Interpretations Committee of the International Accounting Standards Board (IASB) issued IFRS Interpretation, IFRIC 23, Uncertainty over Income Tax Treatments (the Interpretation) which seeks to bring clarity to the accounting for income tax treatments that have yet to be accepted by tax authorities.

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On 7 June 2017, the International Financial Reporting Standards (IFRS) Interpretations Committee of the International Accounting Standards Board (IASB) issued IFRS Interpretation, IFRIC 23, Uncertainty over Income Tax Treatments (the Interpretation) which seeks to bring clarity to the accounting for income tax treatments that have yet to be accepted by tax authorities.

The Interpretation is applicable for annual periods beginning on or after 1 January 2019. Early application is permitted.

To access the text of the IASB’s announcement, please click here.

To view a high-level summary of this interpretation issued by KPMG IFRG Limited, please click here.

To view the SlideShare presentation issued by KPMG IFRG Limited, please click here.

© 2017 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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