Companies (Accounting Standards) Amendment Rules, 2026

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rnment, in consultation with the National Financial Reporting Authority constituted under section 132 of the said Act, hereby makes the following rules to amend the Companies (Accounting Standards) Rules, 2021, namely:- 1. Short title and commencement. - (1) These rules may be called the Companies (Accounting Standards) Amendment Rules, 2026. (2) They shall come into force on ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the requirements in this Standard, an enterprise should neither recognise nor disclose information about deferred tax assets and liabilities related to Pillar Two income taxes."; (b) after paragraph 32, the following paragraphs shall be inserted, namely: - "International tax reform-Pillar Two model rules 32A. An enterprise should disclose that it has applied the exceptio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eriod. This information does not have to reflect all the specific requirements of the Pillar Two legislation and can be provided in the form of an indicative range. To the extent information is not known or reasonably estimable, an enterprise should instead disclose a statement to that effect and disclose information about the enterprise's progress in assessing its exposure. Examples illustrati....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Medium-sized Company may not apply the disclosure requirements laid down in paragraphs 32C and 32D."; (c) after paragraph 34 and before Illustration I, the following paragraph shall be inserted, namely: - "Effective date 35. International Tax Reform-Pillar Two Model Rules, added paragraphs 2A and 32A-32D. An enterprise should: (a) apply paragraphs 2A and 32A im....