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It describes the Board’s replacement history for IAS 12, the exposure draft process, and the rationale for incorporating and scoping guidance related to recovery of revalued non-depreciable assets.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & 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address?","Question",{"text":63,"@type":64},"The amendments address how entities apply the IAS 12 measurement principle to temporary differences related to investment properties measured using the fair value model in IAS 40.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Why were the deferred tax amendments issued as part of IAS 12?",{"text":68,"@type":64},"They respond to significant current practice issues identified by the Board and were developed through an exposure draft and subsequent consideration of comments.",{"name":70,"@type":61,"acceptedAnswer":71},"How does the document explain recovery for non-depreciable assets?",{"text":72,"@type":64},"It notes that a non-depreciable asset’s carrying amount is generally recovered only through sale, not through depreciation-driven use, and contrasts this with depreciable 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issued by the International Accounting Standards Board (IASB):  \n30 Cannon Street, London, EC4M 6XH, United Kingdom.  \nTel: +44 (0)20 7246 6410 Fax: +44 (0)20 7246 6411  \nEmail: [info@ifrs.org](info@ifrs.org) Web: [www.ifrs.org](www.ifrs.org)  \nCopyright © 2001 IFRS Foundation  \nIFRSs (which include International Accounting Standards and Interpretations) are copyright of the IFRS Foundation. The authoritative text of IFRSs is that issued by the IASB in the English language. Copies may be obtained from the IFRS Foundation Publications Department. Please address publication and copyright matters to:  \nIFRS Foundation Publications Department  \n30 Cannon Street, London, EC4M 6XH, United Kingdom.  \nTel: +44 (0)20 7332 2730 Fax: +44 (0)20 7332 2749  \nEmail: publications@ifrs.org Web: www.ifrs.org  \nAll rights reserved. No part of this publication may be translated, reprinted or reproduced or utilised in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or in any information storage and retrieval system, without prior permission in writing from the IFRS Foundation.  \nThe IFRS Foundation logo, the IASB logo, the IFRS for SMEs logo, the ‘Hexagon Device’, ‘IFRS Foundation ’,‘eIFRS ’, ‘IAS ’, ‘IASB ’, ‘IASC Foundation ’, ‘IASCF’, ‘IFRS for SMEs ’, ‘IASs ’, ‘IFRS ’, ‘IFRSs ’, ‘International Accounting Standards ’ and ‘International Financial Reporting Standards ’ are Trade Marks of the IFRS Foundation  \nApproval by the Board of Deferred Tax: Recovery of Underlying  \nAssets (Amendments to IAS 12) issued in December 2010   \nDeferred Tax: Recovery of Underlying Assets (Amendments to IAS 12) was approved for publication by the fifteen members of the International Accounting Standards Board.  \nSir David Tweedie Chairman  \nStephen Cooper Mary E Barth Philippe Danjou Jan Engström Patrick Finnegan  \nAmaro Luiz de Oliveira Gomes  \nPrabhakar Kalavacherla  \nElke König Patricia McConnell Warren J McGregor Patricia L O’Malley Paul Pacter  \nDarrel Scott  \nJohn T Smith  \nTatsumi Yamada  \nWei-Guo Zhang  \nBasis for Conclusions on IAS 12 Income Taxes  \nThis Basis for Conclusions accompanies, but is not part of, IAS 12.  \nIntroduction  \nBC1 When IAS 12 Income Taxes was issued by the International Accounting Standards Committee in 1996 to replace the previous IAS 12 Accounting for Taxes on Income (issued in July 1979), the Standard was not accompanied by a Basis for Conclusions. This Basis for Conclusions is not comprehensive. It summarises only the International Accounting Standards Board’s considerations in making the amendments to IAS 12 contained in Deferred Tax: Recovery of Underlying Assets issued in December 2010. Individual Board members gave greater weight to some factors than to others.  \nBC2 The Board amended IAS 12 to address an issue that arises when entities apply the measurement principle in IAS 12 to temporary differences relating to investment properties that are measured using the fair value model in IAS 40 Investment Property.  \nBC3 In March 2009 the Board published an exposure draft, Income Tax (the 2009 exposure draft), proposing anew IFRS to replace IAS 12. In the 2009 exposure draft, the Board addressed this issue as part of a broad proposal relating to the determination of tax basis. In October 2009 the Board decided not to proceed with the proposals in the 2009 exposure draft and announced that, together with the US Financial Accounting Standards Board, it aimed to conduct a fundamental review of the accounting for income tax in the future. In the meantime, the Board would address specific significant current practice issues.  \nBC4 In September 2010 the Board published proposals for addressing one of those practice issues in an exposure draft Deferred Tax: Recovery of Underlying Assets with a 60-day comment period. Although that is ","cbCainwxWnxeYgEw","https://ap.wps.com/l/cbCainwxWnxeYgEw","pdf",488166,27,"English","# Introduction\n## Background to the amendments to IAS 12\n# Recovery of revalued non-depreciable assets\n## Link to SIC Interpretation 21\n## Relevant recovery patterns for depreciable and non-depreciable assets","[{\"question\":\"What issue do the Amendments to IAS 12 address?\",\"answer\":\"The amendments address how entities apply the IAS 12 measurement principle to temporary differences related to investment properties measured using the fair value model in IAS 40.\"},{\"question\":\"Why were the deferred tax amendments issued as part of IAS 12?\",\"answer\":\"They respond to significant current practice issues identified by the Board and were developed through an exposure draft and subsequent consideration of comments.\"},{\"question\":\"How does the document explain recovery for non-depreciable assets?\",\"answer\":\"It notes that a non-depreciable asset’s carrying amount is generally recovered only through sale, not through depreciation-driven use, and contrasts this with depreciable assets.\"}]","Deferred Tax: Recovery of Underlying Assets - Amendments to IAS 12 | PDF",68]