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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IAS 16
Sir, I would like to know if import taxes paid on the acquisition of specialist building materials may be capitalised as part of the cost of a self-constructed property in accordance with IAS 16? Thank you.
If those taxes are not reclaimable then, yes, I cannot imagine that they are not available to be capitalised. I would go further and say that, not only may they be capitalised, they should be capitalised
Ok?
Yes thank you.
You’re welcome