INTERNATIONAL TAX PLAZA - Included revaluation method gain or loss

Details: Published: 02 February 2022

‘Included revaluation method gain or loss’ means a gain or loss, increased or decreased by any associated covered taxes for the fiscal year, arising from the application of an accounting method or practice that, in respect of property, plant and equipment:

(i) periodically adjusts the carrying value of such property to its fair value;

(ii) records the changes in value in other comprehensive income; and

(iii) does not subsequently report the gain or loss accrued in other comprehensive income through profit and loss.

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