IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
Redeliberations continue on Goodwill and Impairment project
On 24 May 2023, the IASB met to discuss its Goodwill and Impairment project, in particular the proposed changes to IAS 36 Impairment of Assets in relation to the impairment test of cash-generating units containing goodwill.
Final amendments to IAS 7 and IFRS 7 on supplier finance arrangements
At the end of May 2023, the IASB published its final amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements, providing for new disclosures on these arrangements, commonly known as "reverse factoring"
IFRS IC members reappointed
IFRS IC members reappointed
Discussions on the equity method
At its April 2023 meeting, the IASB continued its discussions on the equity method and tentatively proposed that an investor should recognise, and include in the carrying amount of its investment in an associate, a deferred tax asset (or liability) arising from recognition of its share of the associate’s net identifiable assets and liabilities at fair value.
OECD Pillar Two: publication of final amendments to IAS 12 expected by end of May
In January 2023, the IASB published an exposure draft of amendments that would introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules under IAS 12, and that would require targeted disclosures on entities’ exposure to these new tax rules.