Tentative Decision on UK Adoption of International Tax Reform: Pillar Two Model Rules (Amendments to IAS 12)

Date: 13 July 2023


The UKEB Board made a tentative decision at its public Board meeting today to endorse the Amendments to IAS 12 International Tax Reform: Pillar Two Model Rules. The Amendments introduce a temporary exception to the accounting for deferred taxes arising from the Pillar Two model rules, a requirement to disclose that the exception has been applied and further targeted disclosure requirements. The result of the formal written vote is expected to be published no later than Thursday 20 July.