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mike deffered tax should be recognised on revaluation of property plant and equipment even if any tax due on the gain made on any sale of the asset can be deffered by being rolled over against the cost of a replacement asset mike please explain this statement for me simply if you can explain this with example its better
If we reinvest the proceeds of sale of one piece of PPE into another piece of PPE, the revenue authorities / government may allow the gain on the sale of the first piece not to be taxed, but instead it may be deferred until the later sale of the second or subsequent piece
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