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Revaluation of PP&E & its tax treatment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Revaluation of PP&E & its tax treatment

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  • January 16, 2019 at 2:38 am #502168
    gangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Sir why when an item of PP&Equip is revalued, the tax base remains unchanged and hence giving rise to a temporary difference?

    January 21, 2019 at 8:56 pm #502935
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7142
    • ☆☆☆☆☆

    Hi,

    Tax authorities ignore the revaluation as it is too subjective, hence the tax base remains the same. Tax authorities only like facts/evidence and that will only arise once the asset is sold in the future.

    Thanks

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