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Changes in accounting policies, comparability and adjustments | 6 Months Ended
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Jun. 30, 2023
Changes In Accounting Policies Comparability And Adjustments [Line Items] |
Changes in accounting policies, comparability and adjustments | IFRS 17, Insurance Contracts Effective from 1 January 2023, UBS has adopted IFRS 17, Insurance Contracts , which sets out the accounting requirements for contractual rights and obligations that arise from insurance contracts issued and reinsurance contracts held. The adoption has had no material effect on the Group’s financial statements. Amendments to IAS 12 , Income Taxes In May 2023, the IASB issued amendments to IAS 12 Income Taxes , whereby, under an exception, deferred tax assets (DTAs) and deferred tax liabilities (DTLs) will not be recognized in respect of top-up tax on income under Global Anti-Base Erosion Rules that is imposed under tax law that is enacted or substantively enacted to implement the Pillar Two model rules published by the Organisation for Economic Co-operation and Development. This exception applies immediately upon the issuance of the amendments and it is, therefore, potentially relevant to these financial statements and subsequent financial statements. Although countries are starting to implement the rules, the Group did not have any DTAs or DTLs on 30 June 2023 that had not been recognized as a result of the application of this exception. The exception is expected to be removed by the IASB in due course, although the timing of that has not been specified. Other amendments to IFRS Effective from 1 January 2023, UBS has adopted a number of minor amendments to IFRS, which have had no significant effect on the Group.
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations | The amendments also introduced new disclosure requirements in relation to top-up tax, which will first apply to the Group’s financial statements for the year ended 31 December 2023.

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- Definition The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 8 -IssueDate 2022-03-24 -Paragraph 30 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=8&code=ifrs-tx-2022-en-r&anchor=para_30_b&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The entire disclosure for changes in accounting policies, accounting estimates and errors. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 8 -IssueDate 2022-03-24 -Section Accounting policies -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=8&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IAS08_g7-31__IAS08_g7-31_TI -URIDate 2022-03-24 + Details
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