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What is tax base and accounting base of an asset?

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Question added by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies
Date Posted: 2015/05/23
Saidul Alam
by Saidul Alam , Accountant , Akhtar Al Balushi Trad. & Cont. L.L.C

Tax Base :  the amount of money or property that can be taxed within an area. In Details , the wealth (as real estate or income) within a jurisdiction that is liable to taxation.   Accounting Base : The assets which can be calculate in a accounting year in known as accounting base. The value of Assets can be calculated by accounting base like Assets value - Depriciation.

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