IAS 12 Income Taxes
E453766
IAS 12 Income Taxes is an International Accounting Standard that prescribes the accounting treatment for current and deferred income taxes in financial statements.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| IAS 12 | 0 |
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf | International Accounting Standard ⓘ |
| addresses |
tax consequences of future recovery of assets
ⓘ
tax consequences of future settlement of liabilities ⓘ tax consequences of recovering or settling the carrying amount of assets and liabilities ⓘ tax consequences of transactions and other events of the current and prior periods ⓘ |
| appliesTo |
both domestic and foreign income taxes
ⓘ
entities preparing financial statements under IFRS ⓘ general purpose financial statements ⓘ |
| basisOfDeferredTax | temporary difference approach ⓘ |
| classificationRequirement |
classifies current tax as current liability or current asset
ⓘ
classifies deferred tax as non-current ⓘ |
| covers |
current tax
ⓘ
deferred tax ⓘ |
| defines |
deductible temporary differences
ⓘ
tax base of a liability ⓘ tax base of an asset ⓘ taxable profit ⓘ taxable temporary differences ⓘ |
| fullName | International Accounting Standard 12 Income Taxes NERFINISHED ⓘ |
| governs | accounting for income taxes ⓘ |
| includesGuidanceOn |
investment tax credits
ⓘ
tax effects of distributions to owners ⓘ tax effects of dividends ⓘ tax effects of share-based payments interaction with IFRS 2 ⓘ uncertain tax positions ⓘ |
| interactsWith | IFRS financial reporting framework NERFINISHED ⓘ |
| issuedBy | International Accounting Standards Board NERFINISHED ⓘ |
| issuedByPredecessor | International Accounting Standards Committee NERFINISHED ⓘ |
| measurementBasis | tax rates and tax laws enacted or substantively enacted by the end of the reporting period ⓘ |
| measurementUnit | undiscounted amounts ⓘ |
| objective | to prescribe the accounting treatment for income taxes ⓘ |
| prohibits | discounting of deferred tax balances ⓘ |
| requires |
recognition of deferred tax assets to the extent that taxable profit will be available
ⓘ
recognition of deferred tax for all taxable temporary differences with limited exceptions ⓘ recognition of deferred tax on business combinations ⓘ recognition of deferred tax on fair value adjustments in business combinations ⓘ |
| requiresDisclosureOf |
amounts and expiry dates of deductible temporary differences and unused tax losses
ⓘ
major components of tax expense ⓘ reconciliation of tax expense to accounting profit multiplied by applicable tax rate ⓘ tax consequences of dividends proposed or declared after the reporting period ⓘ unrecognised deferred tax assets ⓘ |
| requiresRecognitionOf |
current tax assets
ⓘ
current tax liabilities ⓘ deferred tax assets ⓘ deferred tax liabilities ⓘ |
| scopeExcludes | withholding taxes on distributions to owners when accounted for under other standards in some cases ⓘ |
| shortName | IAS 12 Income Taxes NERFINISHED ⓘ |
| treatmentOf |
tax consequences of changes in accounting policies
ⓘ
tax consequences of changes in tax rates or tax laws ⓘ tax consequences of errors under IAS 8 ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.