tax base

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Related to Tax Bases: tax avoidance, Tax burden

Tax base

The assessed value of the taxable property, assets, and income within a specific geographic area.

Tax Base

The value of all assets that a government may tax. The tax base may increase for a number of reasons, particularly with the creation of wealth or when persons with high income move to an area. The tax base is particularly important to local governments because persons with large amounts of assets can move in and out with relative ease. The tax base is also the reason that government revenues tend to increase during economic growth and shrink during recessions.

tax base

The resources that are available for taxation. An evaluation of the tax base is of particular importance in certain municipal bond issues secured by tax revenues.

tax base

the total pool that the tax authorities can tap in levying a TAX. For example, the tax base for INCOME TAX is total taxable income and the tax base for CORPORATION TAX is total taxable profits.

tax base

The assessed value of all the property within a taxing jurisdiction.Local governments are always extremely sensitive to the size of the tax base and the need to increase it,and will often offer incentives to developers who will increase the sales taxes in the area,increase the tax base through additional improved properties, or increase the tax base through redevelopment and increased property values.

References in periodicals archive ?
Ultimately, the process should be one that has the greatest likelihood of creating a set of rules regarding a common tax base that will be consistently applied.
It is unlikely that these issues will disappear even if a common tax base is introduced.
If only a limited number of companies use IAS, is it appropriate to design a common tax base around IAS?
Since the statutory accounts generally form the basis for the tax accounts, with dependency varying among Member States, adoption of a common tax base utilizing IAS to any degree will be greatly simplified if the Member States allow the use of IAS for statutory accounts.
In sum, using IAS as a starting point for a common tax base follows naturally from the use of IAS for local statutory accounts.
Which of the two approaches is preferable--adjusting IAS consolidated accounts to arrive at a consolidated tax base or creating a tax specific method of consolidating the accounts of individual subsidiaries?
This question concerns the implications of an IAS regulation specifically directed at consolidated accounts and a significant attraction of a common tax base consolidation.
Assuming a common tax base is established for subsidiary accounts, the common tax accounts of individual EU subsidiaries could be more readily applied.
Is "dependency" sustainable if a common tax base is adopted across the EU?
Cascading adjustments of the tax base solely for the sake of dependency, however, would be ill- advised.
the Commission's internal 1988 paper regarding guidelines for a tax base.