Covid-19: amendments to IFRS 16 Leases

Covid-19: amendments to IFRS 16 Leases

The International Accounting Standards Board (IASB) has issued an amendments to IFRS 16 Leases to make it easier for lessees to account for Covid-19-related rent concessions such as rent holidays and temporary rent reductions The amendments to IFRS 16 Leases exempts lessees from having to consider individual lease contracts to determine whether rent concessions occurring as a direct consequence of the Covid-19 pandemic are lease modifications, and allows lessees to account for such rent concessions […]