IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
IFRS IC members reappointed
IFRS IC members reappointed
Discussions on the equity method
At its April 2023 meeting, the IASB continued its discussions on the equity method and tentatively proposed that an investor should recognise, and include in the carrying amount of its investment in an associate, a deferred tax asset (or liability) arising from recognition of its share of the associate’s net identifiable assets and liabilities at fair value.
OECD Pillar Two: publication of final amendments to IAS 12 expected by end of May
In January 2023, the IASB published an exposure draft of amendments that would introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules under IAS 12, and that would require targeted disclosures on entities’ exposure to these new tax rules.
IFRS IC agenda decision on definition of a lease: level of evaluation and substitution rights
In March 2023, the IFRS Interpretations Committee (IFRS IC) reached a final decision on a question relating to how to determine whether a contract contains a lease.
Publication of the IFRS Accounting Taxonomy 2023
On 23 March the IFRS Foundation published the IFRS Accounting Taxonomy 2023. It reflects the standards as published at 1 January 2023, including those that have not yet come into effect.