The PwC global network of firms submitted comments on the IASB's exposure draft of proposed amendments to IFRS 2, Share-based Payment. We do not support the proposed exception to the principles in IFRS 2 for transactions in which the entity settles an award by withholding a specified portion of the equity instruments to meet a statutory tax withholding obligation and remitting cash to the taxing authority on the recipient’s behalf. We do however support the proposed clarification of the guidance for the measurement of cash-settled share based payments and the accounting for modifications that change the classification of a share based payment award from cash-settled to equity-settled. Furthermore, we believe that any amendment to IFRS 2 should be applied retrospectively. Our letter also includes detailed responses to the specific questions in the exposure draft.
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