FASB proposes additional income tax disclosures

On March 15, the FASB issued an exposure draft of a proposal that would require additional income tax disclosures for all entities that are subject to income taxes.The amendments aim to enhance the transparency of income tax disclosures primarily related to the rate reconciliation and income taxes paid by requiring greater disaggregation of that information. The amendments would be applied retrospectively.

Comments are due by May 30, 2023.

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