Post by amina147 on Mar 9, 2024 3:15:14 GMT
The without adding them to the relevant period profit and tracking them under equity in the balance sheet. As can be seen from the definition there are some conditions for benefiting from the renewal fund. These conditions are briefly The business keeps books on a balance sheet basis The renewed economic value is subject to depreciation Tracking the sales profit in the Special Funds Account on the balance sheet We can list it as follows.
Article of the Tax Procedure Law states that in case of sale of depreciable economic assets the difference between the price received and their values recorded in the inventory book will be transferred to the profit and loss Austria Phone Numbers List account and that taxpayers who keep books on the basis of business accounts and taxpayers who keep selfemployment earnings books will record this difference as revenue or expense in their books. It is clearly stated that income and corporate tax payers who keep books on a balance sheet basis may benefit and other taxpayers will not be able to benefit from the renewal fund application of the gains obtained from the sale of economic assets subject to depreciation.
The period during which the sales profit can be kept in the renewal fund account has been determined as years and it is stated that the sales profit kept in the fund account of economic assets that are not renewed within this period will be added to the profit of the rd year. Renewal Fund Application and Legal Changes The renewal fund application was introduced with Article of the Tax Procedure Law in order for businesses to renew their economic assets by selling and disposing of their depreciable economic assets benefiting from the sales profits. Some changes were made in the renewal fund application which is also used as a tax deferral institution in practice with the law no. published on. In the renewal fund application.
Article of the Tax Procedure Law states that in case of sale of depreciable economic assets the difference between the price received and their values recorded in the inventory book will be transferred to the profit and loss Austria Phone Numbers List account and that taxpayers who keep books on the basis of business accounts and taxpayers who keep selfemployment earnings books will record this difference as revenue or expense in their books. It is clearly stated that income and corporate tax payers who keep books on a balance sheet basis may benefit and other taxpayers will not be able to benefit from the renewal fund application of the gains obtained from the sale of economic assets subject to depreciation.
The period during which the sales profit can be kept in the renewal fund account has been determined as years and it is stated that the sales profit kept in the fund account of economic assets that are not renewed within this period will be added to the profit of the rd year. Renewal Fund Application and Legal Changes The renewal fund application was introduced with Article of the Tax Procedure Law in order for businesses to renew their economic assets by selling and disposing of their depreciable economic assets benefiting from the sales profits. Some changes were made in the renewal fund application which is also used as a tax deferral institution in practice with the law no. published on. In the renewal fund application.