Comment Letter - FASB’s proposal to change the disclosure requirements for income taxes

31 May 2019 PDF
Subject AccountingLink
Topics Income taxes
Publications Comment Letters


In our comment letter, we support the FASB’s objective of improving the effectiveness of income tax disclosures. We also support the proposal to incorporate income tax disclosures required by the SEC into US GAAP and remove certain disclosures currently required under ASC 740, Income taxes, that are less meaningful as a result of the US tax reform. However, we have concerns about the operability and effectiveness of certain other proposed changes and encourage the Board to perform additional research or clarify its intent to promote consistency and make the disclosures as useful as possible.

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