IASB issues International Tax Reform—Pillar Two Model Rules—Amendments to the IFRS for SMEs Standard

IASB has published International Tax Reform—Pillar Two Model Rules—Amendments to the IFRS for SMEs Standard.
The amendments to the IFRS for SMEs Accounting Standard are based on the amendments to IAS 12 Income Taxes issued in May 2023. These amendments have resulted from the introduction of the Organisation for Economic Co-operation and Development’s (OECD) Pillar Two model rules.
Companies can benefit from the temporary exception in this amendment immediately. They are required to provide the disclosures set out in the amendments for annual reporting periods beginning on or after 1 January 2023