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IFRS® Accounting Standards

International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12)


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend IAS 12 Income Taxes.

The purpose of the project is to respond to stakeholders’ concerns about the potential implications of the imminent implementation of the Organisation for Economic Co-operation and Development’s (OECD) Pillar Two model rules on the accounting for income taxes. The project proposes amendments to introduce a temporary exception from accounting for deferred taxes arising from the implementation of these rules, as well as targeted disclosures for affected entities.

Refer to the IASB International Tax Reform – Pillar Two Model Rules project page for more information.

Staff Contact(s)

Amanda Winter, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to November 2022

  • Approving project

    The IASB added the project to its agenda in November 2022

  • Consulting stakeholders

    The IASB issued an Exposure Draft in January 2023

  • Deliberating feedback
  • Final pronouncement


January 24, 2023 Document for Comment
AcSB Exposure Draft – International Tax Reform – Pillar Two Model Rules (Proposed Amendments to IAS 12)

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to the AcSB finalizing its comment letter, please submit comments to the AcSB prior to February 24, 2023.

Meeting & event summaries

March 2, 2023 AcSB Decision Summary – February 15, 2023

The AcSB discussed its draft response letter to the IASB’s Exposure Draft International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12) and provided staff with comments to incorporate into the final response letter. The Board will submit its letter by the March 10, 2023, deadline.

The AcSB also discussed the domestic implications of the IASB’s proposals. The Board directed staff to further research the impact of the International Tax Reform on applying Part II of the Handbook, to determine next steps.


This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.