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Journal entryAdvancedVariant — group VG.IAS12.000060Published

Question · Pillar Two: exception and disclosures

Pillar Two legislation is in effect in 20X5 for the Lumbrac group. The top-up tax computation, made under that legislation (outside IAS 12, case data), results in 340,000 payable by the parent for the year. Record the year-end entry.

Top-up tax for the year
340,000
Your answer
  1. Line 1

    Account Current tax expense

  2. Line 2

    Account Current tax liability

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