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.
All labels observed (1)
| Label | Occurrences |
|---|---|
| IAS 12 Income Taxes canonical | 2 |
How this entity was disambiguated
This entity first appeared as the object of triple T4575841 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IAS 12 Income Taxes Context triple: [IFRS, includesStandard, IAS 12 Income Taxes]
-
A.
ASC 740 Income Taxes
ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
D.
IAS (Pay) Rules
The IAS (Pay) Rules are the central government regulations that define the pay structure, scales, and progression for officers of the Indian Administrative Service.
-
E.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IAS 12 Income Taxes Target entity description: IAS 12 Income Taxes is an International Accounting Standard that prescribes the accounting treatment for current and deferred income taxes in financial statements.
-
A.
ASC 740 Income Taxes
ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
-
B.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
C.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
D.
IAS (Pay) Rules
The IAS (Pay) Rules are the central government regulations that define the pay structure, scales, and progression for officers of the Indian Administrative Service.
-
E.
ASC 718 Compensation—Stock Compensation
ASC 718 Compensation—Stock Compensation is the U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and disclosure of share-based payment arrangements, such as stock options and restricted stock, granted to employees and other service providers.
- F. None of above. chosen
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 ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IAS 12 Income Taxes Description of subject: IAS 12 Income Taxes is an International Accounting Standard that prescribes the accounting treatment for current and deferred income taxes in financial statements.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.