The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IAS 12 ‘Income Taxes’. As the IASB concluded that diversity in practice around the recognition of a deferred tax asset that is related to a debt instrument measured at fair value is mainly attributable to uncertainty about the application of some of the principles in IAS 12, the proposed amendments consist of some clarifying paragraphs and an illustrating example. Comments are requested by 18 December 2014.