SOCPA Adopts IASB Amendments on International Accounting Standard No. 12

SOCPA has adopted the IASB's amendments to IAS 12 "income taxes" which aims to exclude transactions that, upon initial proof, lead to an equal amount for taxable and deductible temporary differences from the scope of the exemptions granted by the standard for the proof of temporary differences.

This amendment is based on inquiries received by the international interpretation committee on the subject, which concluded that there was inconsistency in such transactions. The amendment was made with the aim of removing differences in implementation.
The amendment can be viewed by clicking here.