The IASB has publis­hed the col­lec­tive amend­ment stan­dard ‘An­nual Im­pro­ve­ments to IFRS Ac­coun­ting Stan­dards - Vo­lume 11’ with amend­ments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7, as well as amend­ments to IAS 28 and va­rious draft amend­ments. In ad­di­tion, the first five mo­du­les of the IDW RS FAB 100 ‘Mo­dule State­ment on Sus­tai­na­bi­lity Re­por­ting in ac­cor­dance with the Eu­ro­pean Sus­tai­na­bi­lity Re­por­ting Stan­dards (ESRS)’ are avail­able in their fi­nal ver­sion and ESMA and Fe­deral Fi­nan­cial Su­per­vi­sory Aut­ho­rity (Ba­Fin) have an­noun­ced their au­dit prio­ri­ties. Fi­nally, in this is­sue of no­vus IFRS, we have com­pi­led the IF­RIC up­dates from June 2024 to the pre­sent day.

From fi­nan­cial year 2024 on­wards, large cor­po­rate groups must ex­amine the ex­tent to which a tax in­crease is payable due to the re­qui­re­ments of the glo­bal mi­ni­mum tax. Even if all group en­ti­ties are ba­sed in coun­tries with a no­mi­nal cor­po­rate tax rate well above the mi­ni­mum tax rate of 15 %, the is­sue of glo­bal mi­ni­mum tax is not re­sol­ved. Howe­ver, tem­porary re­lief can be uti­li­sed and should tem­pora­rily re­duce the ad­mi­nis­tra­tive bur­den in many ca­ses.

More and more com­pa­nies are be­ne­fiting from the tax in­cen­ti­ves for re­se­arch and de­ve­lop­ment in­tro­du­ced with the Re­se­arch Al­lo­wance Act in 2020. The re­cently enac­ted Growth Op­por­tu­nities Act has si­gni­fi­cantly ex­pan­ded the fun­ding to pro­vide fi­nan­cial in­cen­ti­ves, es­pe­cially for me­dium-si­zed en­ter­pri­ses, to in­vest more in re­se­arch and de­ve­lop­ment. The goal is to strengt­hen Ger­many as an in­vest­ment lo­ca­tion and to sti­mu­late re­se­arch ac­tivi­ties.