PwC submitted its comments on the FASB’s proposal, Income Taxes (Topic 740), Disclosure Framework – Changes to the Disclosure Requirement for Income Taxes. We support the Board’s overall objective to make financial statement disclosures more effective, balancing the information needs of financial statement users with the costs and complexity of producing that information. We generally agree that the proposed amendments would result in the inclusion of more decision-useful information about income taxes in the notes to the financial statements. However, we have recommendations to improve certain aspects of the proposal. Read our letter for detailed responses to the FASB’s questions.
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