Notice is hereby given, pursuant to section 24 of the Financial Reporting Act 2013, that the New Zealand Accounting Standards Board of the External Reporting Board has issued Uncertainty over Income Tax Treatments (Amendments to PBE IAS 12).

Uncertainty over Income Tax Treatments (Amendments to PBE IAS 12):

• applies to all Tier 1 and Tier 2 public benefit reporting entities and groups, other than where expressly exempted by its terms, the terms of any other approved accounting standard or by law;
• applies to financial statements for annual periods covering periods beginning on or after 1 January 2020, with early application permitted; and
• is a disallowable instrument for the purposes of the Legislation Act 2012.

Copies of the standard may be inspected free of charge at the offices of the External Reporting Board (XRB), Level 7, 50 Manners Street, Wellington. Copies are also available on the XRB’s website at www.xrb.govt.nz.

Dated this 15th day of August 2019.

KIMBERLEY CROOK, Chair, New Zealand Accounting Standards Board.