Amendments to IFRS 16 endorsed for use in the EU

On 20 November 2023, the amendments to IFRS 16 Leases titled Lease Liability in a Sale and Leaseback were endorsed by the European Commission for use in the European Union.

The EU effective date is the same as the IASB’s effective date (annual periods beginning on or after 1 January 2024).

The amendments clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale.

You can find more information about Amendments to IFRS 16 in our article IASB issued an amendment to IFRS 16.

IFRS 16 Leasing IASB IFRS dReport newsletter

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