Ias12
IAS - 12
Income taxes
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International Accounting Standard No 12 (IAS 12)
Income taxes
In October 1996, the council approved the revised Standard, published as IAS 12 (revised 1996), income taxes and repealed the previous IAS 12 (reformatted 1994), accounting for taxes on income. The revised standard was effective for financial statements beginning from January 1 1998.
In May 1999, IAS 10 (revised 1999), events after the balance sheet date, amended paragraph 88. The amended text is effective for annual financial statements covering periods beginning on or after January 1, 2000.
In April 2000, were amended paragraphs 20, 62 (a), 64 and Appendix A, paragraphs A10, A11 and B8 to update cross-references and terminology as a result of the issuance of IAS 40, investment property.
In October 2000, the Council approved certain amendments to IAS 12, adding paragraphs 52A, 52B, 65A, 81 (i), 82A, 87A, 87B, 87C and 91, while removing paragraphs 3 and 50. These revisions limited specify the accounting treatment of the consequences of dividends in income tax. The revised text is effective for financial statements covering periods beginning on or after January 1, 2001.
Have been issued two interpretations SIC that are relevant to IAS 12: • SIC-21, income taxes - Recovery of Revalued non-depreciable assets, and • SIC-25, income taxes - Changes in the tax status of the Company or its shareholders.
Note: The Appendices cited in the text of the Standard were not included in this release.
By: http://www.WorldGAAPInfo.com
Introduction
The Standard (IAS 12 revised) replaces IAS 12, accounting for income taxes (IAS 12 original). IAS 12 (revised) is effective for fiscal years beginning on or after January 1 1998. The major changes contained in respect of IAS 12 (original) are as follows:
1. The original IAS 12 required the companies to account for deferred taxes using the deferral method or the liabilities, also known
Income taxes
By: http://www.WorldGAAPInfo.com
International Accounting Standard No 12 (IAS 12)
Income taxes
In October 1996, the council approved the revised Standard, published as IAS 12 (revised 1996), income taxes and repealed the previous IAS 12 (reformatted 1994), accounting for taxes on income. The revised standard was effective for financial statements beginning from January 1 1998.
In May 1999, IAS 10 (revised 1999), events after the balance sheet date, amended paragraph 88. The amended text is effective for annual financial statements covering periods beginning on or after January 1, 2000.
In April 2000, were amended paragraphs 20, 62 (a), 64 and Appendix A, paragraphs A10, A11 and B8 to update cross-references and terminology as a result of the issuance of IAS 40, investment property.
In October 2000, the Council approved certain amendments to IAS 12, adding paragraphs 52A, 52B, 65A, 81 (i), 82A, 87A, 87B, 87C and 91, while removing paragraphs 3 and 50. These revisions limited specify the accounting treatment of the consequences of dividends in income tax. The revised text is effective for financial statements covering periods beginning on or after January 1, 2001.
Have been issued two interpretations SIC that are relevant to IAS 12: • SIC-21, income taxes - Recovery of Revalued non-depreciable assets, and • SIC-25, income taxes - Changes in the tax status of the Company or its shareholders.
Note: The Appendices cited in the text of the Standard were not included in this release.
By: http://www.WorldGAAPInfo.com
Introduction
The Standard (IAS 12 revised) replaces IAS 12, accounting for income taxes (IAS 12 original). IAS 12 (revised) is effective for fiscal years beginning on or after January 1 1998. The major changes contained in respect of IAS 12 (original) are as follows:
1. The original IAS 12 required the companies to account for deferred taxes using the deferral method or the liabilities, also known