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Final Stage

In March 2024, the International Accounting Standards Board (IASB) issued IFRS Accounting Taxonomy 2023—Update 1 International Tax Reform—Pillar Two Model Rules, Supplier Finance Arrangements and Lack of Exchangeability.

The Update reflects the amendments to:

  • IAS 12 Income Taxes—International Tax Reform—Pillar Two Model Rules, issued in May 2023;
  • Section 29 Income Tax of the IFRS for SMEs Accounting Standard—International Tax Reform—Pillar Two Model Rules, issued in September 2023;
  • IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures—Supplier Finance Arrangements, issued in May 2023; and
  • IAS 21 The Effects of Changes in Foreign Exchange Rates—Lack of Exchangeability, issued in August 2023.

The IFRS Accounting Taxonomy 2024 incorporates the changes resulting from this Update. The final XBRL files and supporting materials are available on the IFRS Accounting Taxonomy 2024 page.