IFRS and NL GAAP | Deloitte Netherlands (2024)

We trust that you will find this publication a useful tool to keep you informed about the main differences between IFRSs and NL GAAP. We publish this comparison on a yearly basis.

Available editions:

• Edition 2023
• Edition 2022
• Edition 2021

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Edition 2023

Welcome to the sixteenth edition of ‘IFRSs and NL GAAP, Highlighting the key differences’.

The objective of this publication is to provide a summary of key differences between the requirements of International Financial Reporting Standards (IFRSs) compared to NL GAAP for annual periods beginning on or after 1 January 2023

This publication does not attemptto capture all differences between IFRSs and NL GAAP that may exist or that may bematerial to a particular company’s financial report.

In 2023 there were no major developments in the NL GAAP platform. However, it isnoteworthy that the DASB has issued statement ‘RJ-Uiting 2023-5’ in which the DASBconfirms that (after consultation with stakeholders and evaluation of IFRS 16 ‘Leases’) DAS292 ‘Leases’ will not be changed. The importance of this confirmation is that the lesseemodel of IFRS 16 was not and will not be adopted in DAS 292. Please note that it was andis still possible to adopt IFRS 16 in full and consistently instead of applying DAS 292. If thisoption is not applied DAS 292 should be used including the distinction between operatingand finance leases for both lessee and lessor accounting (similar to IAS 17 Leases, theformer lease standard in IFRS).

Edition 2022

Welcome to the fifteenth edition of ‘IFRSs and NL GAAP, Highlighting the key differences’.

The objective of this publication is to provide a summary of key differences between the requirements of International Financial Reporting Standards (IFRSs) compared to NL GAAP.

This publication does not attempt to capture all differences between IFRSs and NL GAAP that may exist or that may be material to a particular company’s financial report.

While key differences still remain between IFRSs and NL GAAP, we noticed the number of differences has slightly decreased between IFRSs and NL GAAP. Largely due to the expansion of the guidance in Dutch Accounting Standard (DAS) 221 and DAS 270 regarding revenue recognition. The Dutch Accounting Standards Board (DASB) emphasizes that IFRS 15 is not leading in case DASs for revenue recognition lacks specific guidance. An important difference remains because DASs still use a risks and rewards approach to determine the moment of revenue recognition while IFRS uses a transfer of ‘control’ approach. DASB however still facilitates to use IFRS 15 in full for revenue recognition.

Edition 2021

Welcome to the fourteenth edition of ‘IFRSs and NL GAAP, Highlighting the key differences’. The objective of this publication is to provide a summary of key differences between the requirements of International Financial Reporting Standards (IFRSs) compared to NL GAAP.

This publication does not attempt to capture all differences between IFRSs and NL GAAP that may exist or that may be material to a particular company’s financial report. We noticed the number of differences has slightly decreased between IFRSs and NL GAAP. However, we identified key differences still exists between IFRSs and NL GAAP.

In 2021 the amendments to IFRS 16 Leases for COVID-19 related rent concessions as a temporary practical expedient for payments due on or beyond 30 June 2021, the amendments related the IBOR reform Phase 2 and the amendments to IFRS 4 Insurance Contracts – deferring IFRS 9 -, became effective. Considering IFRS 15 Revenue from Contracts with Customers, the Dutch Accounting Standards Board (DASB) has expanded the guidance in Dutch Accounting Standard (DAS) 221 and DAS 270 regarding revenue recognition. The DASB emphasizes that IFRS 15 is not leading in case DAS for revenue recognition lacks specific guidance. An important difference remains because DAS still use a risks and rewards approach to determine themoment of revenue recognition while IFRS uses a transfer of ‘control’ approach. DASB however still facilitates to use IFRS 15 in full for revenue recognition. Given the importance of these updates, we have included in the comparison these differences with an effective date per 1 January 2022.