Published in journal "Taxes and Taxation", 2014-7 in rubric "PREDICTION AND PLANNING IN TAXATION", pages 650-661.
Resume: The Russian scientific school of value assessment does not provide sufficient studies of tax aspects of business assessment. There is no detailed algorithm or practical recommendations for the assessor with due consideration for the latest changes and novelties of the tax legislation at the level of federal manuals. The article aims to fill this gap and define the main directions in the development of manuals for assessment of tax aspects in cost assessment and analysis. The article provides definition of tax law and legal responsibility when assessing business value, the author studies practical issues. The author sets the goal of structuring the applied methods of assessment depending on various approaches to assessment. The author establishes a dependency between business value and the measures for tax restructuring, which are taken by the business owner or an investor buying an enterprise. The author sets the directions for taking into account these factors, when defining investment cots. The author postulates the directions for implementation of elements of tax law in the assessment: holding tax audit, provisions for certain factual points of value for the tax consequences in the assessment contract. The author singles out the directions for evaluation of the pre-sale structuring of the assessed enterprise, defining the influence of the changes in the ownership of assets for optimizing tax consequences within the framework of investment value. The author discusses the issues of defining investment value of a business after the enterprise is restructured, as well as place and legal role of tax audit in assessment work. The author defines directions for tax inventory for business assessment, establishing inventory points, property contents, tax risks, possibilities for implementation of certain tax schemes, defects of an evaluated object, internal tax structure. The author offers to use the spread of tax factors when defining investment cost and forming an assessment memo report. The author casts light upon the issues of including taxes into the business value defined by an assessor offering corrections of value depending on the structure in the business ownership in cases such as: remission of taxes in cases of selling a business, selling participation in a business, purchase of a business in Russia with loaned financing of a foreign buyer company, direct sale of assets – sale of business piece by piece. Resolving the problems mentioned in this article shall assist the persons forming and using assessment report in objective evaluation of value aspects in the process of gaining assessment results, providing the state fiscal bodies with important analytical information for raising the tax base.
Keywords: business value assessment, tax aspects of assessment, investment cost, tax audit, tax inventory, tax basis, tax factors, loaned financing, structure of business ownership, behavior factors.
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