The increasing global significance of financial reporting according to IFRS/IAS inevitably raises the question of the future of tax profit determination. In this context, it is particularly important for Germany to consider whether the traditional principle of relevance can be maintained. Lars Jensen-Nissen questions to what extent IFRS/IAS can be seen as an opportunity for the further development of German tax balance sheet law. He examines the accounting treatment of financial instruments in principle, as their appropriate tax balance sheet representation is currently considered unclear in many areas. Starting from the formulation of basic requirements for an independent tax balance sheet law, he analyzes the individual accounting regulations of IAS 32 and 39 and compares the IFRS/IAS regulations with the current tax balance sheet provisions. Finally, he discusses.