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IASB issued Amendment to IFRS 16 in relation to COVID-19 related rent concessions
The IASB has published an amendment to IFRS 16 to provide a practical relief to lessees in accounting for rent concessions arising as a result of the COVID-19 pandemic with an optional exemption to lessees from assessing whether a COVID-19-related rent concession is a lease modification and account for those rent concessions as if they were not lease modifications.
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