Draft Comment Letter: IASB Exposure Draft: International Tax Reform – Pillar Two Model Rules (Proposed Amendments to IAS 12)

Date: 24 February 2023

The UKEB has issued a draft comment letter relating to the IASB Exposure Draft (ED) International Tax Reform – Pillar Two Model Rules for public consultation.

We welcome the ED. We support its objectives, the accelerated timetable and the introduction of a mandatory temporary exception from accounting for deferred tax arising from the Pillar Two model rules. In addition, we set out some potential enhancements to the proposals which we have identified from our analysis and outreach with stakeholders.

In view of the urgency of the Amendments and the IASB’s accelerated timetable, the draft comment letter has been issued with a short comment period.

To read the UKEB’s draft comment letter in full, follow this link. Please email your responses to UKEndorsementBoard@endorsement-board.uk. Stakeholder comments are welcome until close of business on 3 March 2023.