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The Tax Value Method - Discussion Paper

Date:

Monday, 7 February 2000

Content ID:

169

Abstract:

The tax value method is a principle-based framework that is fundamental to the reform of the business tax system. The income tax base (as distinct from an expenditure tax base) will remain the fundamental principle for taxing business arrangements. The subject of the business tax system - the concept of income - is the increase in a taxpayer’s net assets (ignoring, in the case of entities, contributions by its owners). However, that increase is, in most cases, worked out on a realisation basis, so that unrealised gains are not usually taxed.

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