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On 27 February 2024, the GASB published draft amendment standard no. 14 to amend GAS 18 Deferred Taxes (E-DRÄS 14).

The reason for the revision of GAS 18 Deferred Taxes is the adjustment to the current legal situation. The law implementing Council Directive (EU) 2022/2523 to ensure global minimum taxation and other accompanying measures introduced the Minimum Tax Act and made additions to the HGB and EGHGB, in addition to other adjustments. We reported on this in more detail in Express Accounting News 1/2024.

The GASB recommends that the disclosure of the expected effects on the Group when applying the minimum tax laws should go beyond the wording of Section 314 (1) No. 22a HGB and also be made for financial years in which the minimum tax laws have come into force but are not yet applicable.

As part of the amendments, editorial changes to the standard and the renaming of the standard to Deferred Taxes in Consolidated Financial Statements are also proposed.

The comment period, including the question posed by the GASB as to whether it agrees with the above recommendation, ends on 12 April 2024.

E-DRÄS 14 is available on the DRSC's website.

KPMG Express Accounting News

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