CA ANZ and CPA Australia have lodged a joint submission to the IASB’s that supports the proposal to introduce a mandatory temporary exception to the requirements in IAS 12 Income Taxes (IAS 12) to recognise and disclose information about deferred tax assets and liabilities arising from the OECD Pillar Two model rules.  

Due to concerns about the significant complexity and uncertainty surrounding the Rules, we do not support the proposed disclosures in paragraph 88C. We believe that this information would be costly to prepare and unlikely to provide useful information to users of financial statements for decision-making purposes.