In January 2016 the International Accounting Standards Board issued amendments to IAS 12 Income Taxes. The amendments, Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to IAS 12), clarify how to account for deferred tax assets related to debt instruments measured at fair value.
IAS 12 provides requirements on the recognition and measurement of current or deferred tax liabilities or assets. The amendments clarify the requirements on recognition of deferred tax assets for unrealised losses to address diversity in practice.
Entities are required to apply the amendments for annual periods beginning on or after 1 January 2017. Earlier application was permitted.
International Accounting Standards Board July 2015