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IASB Exposure Draft on Covid-19-Related Rent Concessions

Tax and Accounting Update

Edited by:
Bloomsbury Professional staff
Publisher:
Bloomsbury Professional
Publication Date:
24th September 2020

24 April 2020

IASB published today (24 April 2020) Exposure Draft ED/2020/2 Covid-19-Related Rent Concessions: https://www.ifrs.org/projects/work-plan/ifrs-16-and-covid-19/

The exposure draft proposes relief from assessing whether Covid-19 related rent concessions are lease modifications, and proposes that lessees account for Covid-19 related rent concessions as if they are not lease modifications. The 14-day comment period deadline closes on 8 May 2020.