Income taxes and discontinued operations

Learning objectives

• Identify the items in the income taxes and discontinued operations categories.L1
• Explain the link with IAS 12 and IFRS 5.L1, L2

Normative references

• IFRS 18 §67The income taxes category includes tax expense or income recognised in profit or loss under IAS 12 and any related foreign exchange differences.
• IFRS 18 §68The discontinued operations category includes income and expenses from discontinued operations as defined in IFRS 5.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

3 questions

• The IFRS 18 discontinued operations category groups the income and expenses of any activity sold during the year, whether or not it meets the definition in IFRS 5.L1
• Which standard defines the income taxes whose expense is classified in the IFRS 18 income taxes category?L1
• Pavot SA applies IFRS 18. Which statements about the classification of its income and expenses are correct? More than one answer is possible.L2