STANDARDS AND INTERPRETATIONS |
DATE OF PUBLICATION /ISSUE |
EFFECTIVE DATE / ENDORSEMENT BY EU |
DESCRIPTION OF CHANGES AND IMPACT |
---|---|---|---|
IFRS 16 LEASES | 13.01.2016 | 1.01.2019/31.10.2017 | Detailed information disclosed in Note “Leases” |
IFRIC 23 UNCERTAINTY OVER INCOME TAX TREATMENTS |
7.06.2017 | 1.01.2019/ 3.10.2018 | The interpretation defines the method of determination of the taxable profit (tax loss), tax base, unsettled tax losses, unused tax allowances and tax rates (hereinafter collectively named “tax position”), when there is an uncertainty over tax income treatment applied by an entity in a tax return (“uncertain tax treatment”).The interpretation requires that the entity:- decides whether the uncertain tax treatment is subject to individual or collective judgement, – assesses the probability that tax authorities will accept the uncertain tax treatment of a given position, applied or proposed by the entity in a tax return:i) if it is probable, the entity should consistently apply to this position the tax treatment applied or planned in a tax return,ii) if not, the entity should consider the uncertainty’s results when determining its tax position for accounting purposes.The results should be assessed using an approach based on “most probable amount” or “expected value”, depending on which method provides better prediction of the resolution of the uncertainty.The interpretation has been applied by the Group. Further information is in the note “Income tax”. |
IAS 28 AMENDMENTS: LONG-TERM INTERESTS IN ASSOCIATES AND JOINT VENTURES |
12.10.2017 | 1.01.2019/8.02.2019 | Amendments to IAS 28 clarify that an entity shall apply IFRS 9 “Financial instruments” to other financial instruments in associates and joint ventures to which the equity method does not apply. These instruments include long term interest which, in their economic substance, represent a part of the net investment in associates or joint ventures. Amendments to IAS 28 clarified that the IFRS 9 requirements should be applied to long term interests before the IAS 28 requirements relating to allocation of the loss are applied, and that when applying IFRS 9 requirements, the entity does not take into account any adjustments to the carrying value of longterm interest resulting from the application of IAS 28.No material impact on the consolidated financial statements. |
IAS 19 AMENDMENTS: PLAN AMENDMENT, CURTAILMENT OR SETTLEMENT |
7.02.2018 | 1.01.2019/13.03.2019 | Amendments to IAS 19 specify how an entity should determine the cost of defined pension benefit plans if changes to such plans occur. The standard determines how an entity accounts for a defined benefit plan. If a plan amendment, curtailment or settlement occurs, the entity is required to remeasure the net defined benefit liability or asset. The amendment requires the entity to use updated assumptions of the remeasurement to determine the current service cost and the net interest for the remaining part of the reporting period after the plan amendment.No material impact on the consolidated financial statements. |
IAS 9 AMENDMENTS: PREPAYMENT FEATURES WITH NEGATIVE COMPENSATION |
12.10.2017 | 1.01.2019/22.03.2018 | The amendments add a provision relating to contracts with a prepayment option where the lender may be required to accept the prepayments at an amount less than the unpaid principal and interest owed. Such a prepayment could represent a payment for the borrower from the lender, rather than compensation from the borrower to the lender. Such a financial asset will qualify to be measured at amortized cost or at fair value through other comprehensive income (depending on the business model), but the negative compensation must represent a justified compensation for the early repayment of a contract.
No material impact on the consolidated financial statements. |
ANNUAL IMPROVEMENTS TO IFRSS 2015-2017 CYCLE, COVERING:
|
12.12.2017 | 1.01.2019/14.03.2019 | The amendments relate to:
No material impact on the consolidated financial statements. |