The International Accounting Standards Board (IASB) has issued Exposure Draft on Income Tax with the objective of creating an International Financial Reporting Standard (IFRS) on income tax to replace IAS 12 Income Taxes. The draft IFRS includes proposals on the treatment of uncertain tax amounts.
Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than June 08, 2009. Comments can also be sent by e-mail at firstname.lastname@example.org or email@example.com.