DRSC adopts DRÄS 14 with the amendments to DRS 18 Deferred Taxes

The aim of DRÄS 14 is to adapt DRS 18 to the amendments to the HGB resulting from the MinBestRL-UmsG. In addition, some editorial changes have been made to the standard.

The main changes compared to E-DRÄS 14 (see E-DRÄS 14 EAN 8/2024) are as follows:

• In paragraph 25 sentence 1 of GAS 18, the word ‘assets’ has been deleted. This clarifies that the recognition obligation pursuant to section 306 sentence 1 HGB applies to both deferred tax assets and deferred tax liabilities.
• Point 68 of GAS 18 defines the first-time application.
• B23 sentence 2 of GAS 18 specifies the mandatory disclosures of a parent company with a financial year with the same calendar year due to the Minimum Tax Act.

With the exception of paragraphs 66, 67 and 67a, the provisions of the standard must be observed for the first time for the financial year ending after 28 December 2023 (Art. 91 EGHGB). DRÄS 14 will be submitted to the BMJ in a timely manner for publication in accordance with Section 342q (2) HGB.

The GASB's press release dated 29 May 2024 can be viewed here.