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On November 24, 2022, the The International Accounting Standards Board (IASB) issued a statement following its November 2022 meeting confirming that certain  transitional measures for accounting for the Pillar Two global minimum tax are to be introduced. 
 
The measures will apply as amendments to IAS 12.
 
Whilst a number of the measures follow the proposals in the November Staff Paper, the prospect of certain other additional disclosures not previously suggested, has been put forward. 
 
The IASB expects to publish the Exposure Draft International Tax Reform—Pillar Two Model Rules on January 9, 2023.
 
In this article we review the IASB’s announcement and proposed changes. 
 
IASB announcement

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Lee Hadnum

Lee Hadnum

Lee is a qualified Chartered Accountant and Chartered Tax Adviser. A former Senior Tax Analyst at Bloomberg Tax, Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience. Lee's books have been recommended by The Times, The Guardian and The Telegraph.

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