Income taxes and uncertain tax positions resources

Resources

Articles

Corporate Reporting Insights

BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

Uncertain tax treatments

IASB proposes amendments to IAS 12 Income Taxes to clarify implications of Pillar Two tax rules (February 2023)
Potential additional tax disclosures in 30 June 2022 financial statements for some country-by-country reporting entities (CBCREs) (August 2022)
IFRIC 23 – A practical approach to implementation (November 2019)
AASB Interpretation 23 Uncertainty over Income Tax Treatments – Still a sleeper for some (August 2019)
Income tax balances – Bringing certainty to uncertainty (June 2019)
Finally, certainty on uncertain tax treatments with release of IFRIC 23 (July 2017).

Other income tax issues

Public companies must disclose more information about subsidiaries and their tax residency in 30 June 2024 financial reports (April 2024)
Pillar Two disclosures in 31 December 2023 interim and annual financial statements (February 2024)
Pillar Two disclosures in 30 June interim and annual financial statements (August 2023)
Income tax amendments for updates to Accounting Standards for general insurance contracts (July 2023)
IASB approves mandatory temporary exception for deferred taxes arising from Pillar Two top up tax (June 2023)
Accounting impacts from recent Federal Budget announcements (May 2023)
Tax perspective on Federal Budget 2023 – General insurance tax changes (AASB 17) (May 2023)
How do lessees account for deferred taxes on leases when they have made advance lease payments and incurred initial direct costs? (July 2021)
IASB clarifies accounting for deferred taxes relating to assets and liabilities arising from a single transaction (leases and decommissioning obligations) (June 2021)
Accounting impact of changes to non-refundable R&D incentives from 1 July 2021 (June 2021)
‘Instant asset write-offs’ and interaction with accounting for research and development incentives (May 2021)
Accounting for loss carry back announced as part of Federal Government’s October 2020 and May 2021 additional COVID-19 stimulus measures (May 2021)
Accounting for non-refundable research and development incentives (November 2020)
Accounting for refundable research and development incentives (October 2020)
Implications of expanded significant global entity (SGE) definition – introducing the concept of a notional listed consolidated group (August 2020)
Reduction of tax rates for small businesses is now law (substantive enactment) (May 2017)
Changes to IAS 12 clarify recognition of DTAs on unrealised losses (February 2016)
Common errors - income taxes – Part 2 (October 2012)
Common errors when applying AASB 112 Income Taxes – Part 1 (September 2012)
MRRT update (May 2012)
Deferred tax – recovery of investment property (February 2011).

BDO Global IFRS Resources

The following publications have been produced by the BDO Global IFRS group:

► IFRS at a Glance

A high level overview of International Financial Reporting Standards (IFRSs), including International Accounting Standards and Interpretations.

IAS 12 Income Taxes
IFRIC 23 Uncertainty over Income Tax Treatments
SIC-25 Income Taxes – Changes in the Tax Status of an Entity or its Shareholders.

► IFR Bulletins

Focus on latest developments in international financial reporting.

IASB issues amendments to IAS 12 – International Tax Reform – Pillar Two Model Rules (IFRB 2023 04)
IASB publishes Exposure Draft International Tax Reform – Pillar Two Model Rules (IFRB 2023 02)
Amendments to IAS 12 – Deferred tax related to assets and liabilities arising from a single transaction (IFRB 2021 10)
Effects of climate-related matters on financial statements (IFRB 2020 14).

Webinars

BDO Australia conducts monthly complimentary webinars as an easy way to stay up to date with changes to accounting standards and other financial reporting developments. Recent webinars on this topic include:

Tricks and traps of tax effect accounting (October 2023)
More complex tax accounting (October 2021)
The basics of tax accounting (September 2021).

IFRIC agenda decisions

IFRS Interpretations Committee (the Committee) agenda decisions are those issues that the Committee decided not to take onto its agenda. Although not authoritative guidance, in practice they are regarded as being highly persuasive, and all entities reporting under IFRS should be aware of these decisions because they could impact the way particular transactions and balances are accounted for. Agenda decisions on this topic include:

General income tax issues

Deferred taxes relating to an investment in a subsidiary (June 2020) and eLearning and FAQ
Multiple tax consequences of recovering an asset (April 2020) and eLearning and FAQ
Deposits relating to taxes other than income taxes (January 2019) and FAQ
Interest and penalties relating to income taxes (September 2017) and FAQ
Deferred taxes when acquiring a single asset that is not a business (March 2017) and FAQ
Expected manner of recovery of intangible assets with indefinite useful lives (November 2016) and FAQ
Recognition of deferred taxes for the effect of exchange rate changes (November 2016) and FAQ
Applicable rate for the measurement of deferred tax relating to an investment in an associate (March 2015) and FAQ
Recognition of deferred tax for a single asset in a corporate wrapper (July 2014) and FAQ
Impact of an internal reorganisation on deferred tax amounts related to goodwill (May 2014) and FAQ
Recognition and measurement of deferred tax assets when an entity is loss making (May 2014) and FAQ
Presentation of payments on non-income taxes (July 2012) and FAQ
Market value uplifts introduced in a new income tax regime (July 2012) and FAQ
Rebuttable presumption – manner of recovery of investment property (November 2011) and FAQ
Classification of tonnage taxes (May 2009) and FAQ
Deferred taxes arising from unremitted foreign earnings (July 2007) and FAQ
Scope of IAS 12 (March 2006) and FAQ
Single asset entities (November 2005)
Carry forward of unused tax losses and credits (June 2005) and FAQ
Discounting current taxes payable and classification of interest and penalties (June 2004).

Uncertain tax treatments

Presentation of assets or liabilities related to uncertain tax treatments (Sep 2019) and eLearning and FAQ
Recognition of current income tax on uncertain tax position (July 2014) and FAQ.

FAQs

Frequently Asked Questions

FREQUENTLY ASKED QUESTIONS (FAQs) provide insights on a variety of IFRS topics. These FAQs incorporate BDO Global’s expertise as well as IFRS Interpretations Committee agenda decisions. Access to all FAQs on this topic can be accessed here. FAQs relating to IFRS Interpretations Committee agenda decisions can be accessed via IFRIC AGENDA DECISIONS. Other FAQs are listed individually below.

Scope

Accounting for investment tax credits.

Tax base

Temporary differences

Measurement and recognition

Unvertainty over income tax treatments

Presentation

Online Training

Online training resources

Improve your knowledge of accounting standards by purchasing our online training resources on a variety of financial reporting topics. Resources available on this topic include:

A seminar – a pre-recorded two-hour webinar that provides a high-level overview of the accounting standard, as well as a question and answer case study booklet

Articles

Corporate Reporting Insights

BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

Uncertain tax treatments

IASB proposes amendments to IAS 12 Income Taxes to clarify implications of Pillar Two tax rules (February 2023)
Potential additional tax disclosures in 30 June 2022 financial statements for some country-by-country reporting entities (CBCREs) (August 2022)
IFRIC 23 – A practical approach to implementation (November 2019)
AASB Interpretation 23 Uncertainty over Income Tax Treatments – Still a sleeper for some (August 2019)
Income tax balances – Bringing certainty to uncertainty (June 2019)
Finally, certainty on uncertain tax treatments with release of IFRIC 23 (July 2017).

Other income tax issues

Public companies must disclose more information about subsidiaries and their tax residency in 30 June 2024 financial reports (April 2024)
Pillar Two disclosures in 31 December 2023 interim and annual financial statements (February 2024)
Pillar Two disclosures in 30 June interim and annual financial statements (August 2023)
Income tax amendments for updates to Accounting Standards for general insurance contracts (July 2023)
IASB approves mandatory temporary exception for deferred taxes arising from Pillar Two top up tax (June 2023)
Accounting impacts from recent Federal Budget announcements (May 2023)
Tax perspective on Federal Budget 2023 – General insurance tax changes (AASB 17) (May 2023)
How do lessees account for deferred taxes on leases when they have made advance lease payments and incurred initial direct costs? (July 2021)
IASB clarifies accounting for deferred taxes relating to assets and liabilities arising from a single transaction (leases and decommissioning obligations) (June 2021)
Accounting impact of changes to non-refundable R&D incentives from 1 July 2021 (June 2021)
‘Instant asset write-offs’ and interaction with accounting for research and development incentives (May 2021)
Accounting for loss carry back announced as part of Federal Government’s October 2020 and May 2021 additional COVID-19 stimulus measures (May 2021)
Accounting for non-refundable research and development incentives (November 2020)
Accounting for refundable research and development incentives (October 2020)
Implications of expanded significant global entity (SGE) definition – introducing the concept of a notional listed consolidated group (August 2020)
Reduction of tax rates for small businesses is now law (substantive enactment) (May 2017)
Changes to IAS 12 clarify recognition of DTAs on unrealised losses (February 2016)
Common errors - income taxes – Part 2 (October 2012)
Common errors when applying AASB 112 Income Taxes – Part 1 (September 2012)
MRRT update (May 2012)
Deferred tax – recovery of investment property (February 2011).

Income Taxes and Uncertain Tax Positions (IAS 12/AASB 112/IFRIC 23/Interpretation 23)

Resources

Articles

Corporate Reporting Insights

BDO Global IFRS

BDO Global IFRS Resources

► IFRS at a Glance

► IFR Bulletins

Webinars

Webinars

IFRIC agenda decisions

IFRIC agenda decisions

FAQs

Frequently Asked Questions

Online training

Online training resources

Corporate Reporting Insights

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