14. January 2016
Today, the ASCG has submitted its comment letter regarding the Draft Interpretation DI/2015/1 Uncertainty over Income Tax Treatments to the IFRS Interpretations Committee as well as to EFRAG.
The ASCG thinks the DI is an appropriate interpretation of IAS 12, leading to a consistent application of the Standard as well as providing an economically meaningful result. However, the ASCG notes that the DI highlights an inconsistency between the accounting for uncertainty over income tax treatments and the accounting for uncertainty over other taxes that are in the scope of IAS 37 and recommends that the IASB addresses the wider issue of symmetric vs. asymmetric treatments of uncertainty in the revision of the Conceptual Framework and then considers aligning the accounting treatments of the different Standards. (comment letter to IFRS IC/ to EFRAG).