LIFO and IFRS

Hi, seems to be very important that LIFO is not allowed under IFRS. Does anyone know why this is so? Meaning what kind of principle could be conflicting?

companies use LIFO to decrease their tax burden - maybe IFRS is just more conservative here.

but IFRS doesn’t apply to taxes, right? Meaning the states collect taxes, but IFRS is a reporting standard, not a tax rule.