138 Notes to the Consolidated Financial Statements 31 December 2023 2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES (continued) (c) Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction narrow the scope of the initial recognition exception in IAS 12 so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences, such as leases and decommissioning obligations. Therefore, entities are required to recognise a deferred tax asset (provided that sufficient taxable profit is available) and a deferred tax liability for temporary differences arising from these transactions. (d) Amendments to IAS 12 International Tax Reform — Pillar Two Model Rules introduce a mandatory temporary exception from the recognition and disclosure of deferred taxes arising from the implementation of the Pillar Two model rules published by the Organisation for Economic Co-operation and Development. The amendments also introduce disclosure requirements for the affected entities to help users of the financial statements better understand the entities’ exposure to Pillar Two income taxes, including the disclosure of current tax related to Pillar Two income taxes separately in the periods when Pillar Two legislation is effective and the disclosure of known or reasonably estimable information of their exposure to Pillar Two income taxes in periods in which the legislation is enacted or substantively enacted but not yet in effect. The Group has applied the amendments and the mandatory temporary exception retrospectively. 2.3 ISSUED BUT NOT YET EFFECTIVE IFRSS The Group has not adopted the following revised IFRSs, that have been issued but are not yet effective, in the financial statements. The Group intends to apply these revised IFRSs, if applicable, when they become effective. Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture3 Amendments to IFRS 16 Lease Liability in a Sale and Leaseback1 Amendments to IAS 1 Classification of Liabilities as Current or Non-current (the “2020 Amendments”)1 Amendments to IAS 1 Non-current Liabilities with Covenants (the “2022 Amendments”)1 Amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements1 Amendments to IAS 21 Lack of Exchangeability2 1 Effective for annual periods beginning on or after 1 January 2024 2 Effective for annual periods beginning on or after 1 January 2025 3 No mandatory effective date yet determined but available for adoption STRENGTH IN UNITY
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