The European Financial Reporting Advisory Group (EFRAG) and the UK Accounting Standards Board (UK ASB) have issued discussion paper Improving the Financial Reporting of Income Tax.
The discussion paper provides possible enhancements to the requirements for financial reporting of income tax currently in IAS 12. Specifically, it provides possible changes to the reconciliation of tax expense to a standard rate; revisions to the requirements in respect of uncertain tax positions; and whether deferred tax should be discounted.