Extension of Covid 19 exception in IFRS 16 to 30 June 2022

The IASB adopted 31 March 2021 an extension of the Covid-19 provision of paragraph 46A, from 30 June 2021 to June 30, 2022. The provision allows a tenant not to consider whether rent concession falling under IFRS 16.46A is a modification of a lease, but accounting for these changes as they were not a modification. The reason for the extension is that the Covid-19 pandemic is still at its height.

Below is an overview of the effects for the lessor. We refer to more comprehensive guidance in our user manual.

https://api.sharecontrol.no/cdn/doc/ifrs16_covid19.pdf

 

Financial statements 2020 have been prepared Financial statements 2020 have not been finalized.
The Company has previously applied the exemption in IFRS 16.46A

 

Rent concessions from 30 June 2021 but no longer than 30 June 2022. For these agreements, the changes are retrospectively recorded with effect on equity on 1 January 2021 Rent concessions from 30 June 2021 but no longer than 30 June 2022., will have effect from 1 January 2020. If the company has prepared figures for interim periods in 2020, these shall then be restated.
The company has not applied the exemption before, but is considering doing so now

 

If the exemption rule has not been applied as it has not been applicable before, it can now be applied for contracts where reliefs have been granted until 30 June 2022.

 

If the exemption rule has not been applied as it has not been applicable before, it can now be applied for contracts where reliefs have been granted until 30 June 2022.

 

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Extension of Covid 19 exception in IFRS 16 to 30 June 2022

The IASB adopted 31 March 2021 an extension of the Covid-19 provision of paragraph 46A, from 30 June 2021 to June 30, 2022. The provision allows a tenant not to consider whether rent concession fallin...