SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies That Relate To The Consolidated Financial Statements As A Whole

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of these consolidated financial statements has required management to apply accounting policies and methodologies based on complex and subjective judgments, as well as estimates based on past experience and assumptions determined to be reasonable and realistic based on the related circumstances. The use of these judgments, estimates and assumptions affects the amounts reported in these consolidated financial statements. The final amounts for items for which estimates and assumptions were made in the consolidated financial statements may differ from those reported in these statements due to the uncertainties that characterize the assumptions and conditions on which the estimates are based.

The sources of uncertainty identified by the Group are described together with the applicable Note, as follows:


Significant accounting judgment / source of estimation uncertainty			Described in
Revenue recognition			Note 3
Deferred tax assets and uncertain tax positions			Note 8
Provisions and contingent liabilities			Note 7
Impairment of non-current assets			Note 11
Control over subsidiaries			Note 14
Depreciation and amortization of non-current assets			Note 12 and Note 13
Fair value of financial instruments			Note 16
Sale and lease back transactions			Note 12
Measurement of lease liabilities			Note 16

NEW STANDARDS AND INTERPRETATIONS

Adopted in 2022

A number of new and amended standards became effective as of January 1, 2022, which did not have a material impact on VEON financial statements. The Group has not early adopted any other standards, interpretations or amendments that have been issued but have not yet become effective.

Not yet adopted by the Group

Certain new accounting standards and interpretations have been published that are not mandatory for December 31, 2022 reporting periods and have not been early adopted by the Group. These standards are not expected to have a material impact on VEON financial statements in current or future reporting periods or on foreseeable future transactions.