The Russian Ministry of Finance issued Order No. 121n on 20 August 2026, amending Accounting Standard PBU 18/02 “Accounting for Corporate Income Tax Calculations.” The core change clarifies which financial statement line items are affected by differences arising from the remeasurement of deferred tax assets and liabilities when the corporate profit tax rate changes. The amendment ensures consistent presentation in the balance sheet and income statement.
Key Takeaways
- Targeted Amendment: Only specific articles of financial statements are designated for recording remeasurement differences, eliminating prior ambiguity.
- Rate Change Impact: Companies facing statutory tax rate changes (e.g., regional incentives, federal adjustments) must recalculate deferred tax balances and recognize the effect in the correct equity or profit/loss accounts.
- Effective Date: The amendments apply to financial statements for 2026 and subsequent periods, with retrospective adjustment prohibited.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement