These inconsistencies become more apparent as the estimates move farther from the base period. Examples of these errors include the following.
However, as measured using a more appropriate (contemporaneous) base period, the contribution was 10 percent (table 1).(12)
As measured by chained (1992) dollars, consumer spending on services accounted for 35 percent of real GDP growth in 1954-57; as measured using a more appropriate (contemporaneous) base period, the contribution of services was 28 percent.
As measured by chained (1992) dollars, services accounted for 37, percent of real GDP growth in 1997-82; as measured using a more appropriate (contemporaneous) base period, the contribution of services was 28 percent (table 2).
As measured by chained (1992) dollars, agriculture, forestry, and fisheries accounted for 4 percent of real GDP growth in 1977-82; as measured using a more appropriate (contemporaneous) base period, the contribution of this industry was 7 percent.
[Section] 1.861-10(e)(9)(iii), the various base period ratios are generally not recalculated in case of corporate events.
The exclusion period for acquired or disposed groups should, perhaps, be consistent with the number of base period years selected for averaging debt-to-asset ratios.
As a further alternative to the "exclusions" method of the proposed regulations, TEI recommends that taxpayers be given an election to combine the assets and debt of acquired companies -- whether CFCs or members of the affiliated group -- and to recalculate the base period years for tax years including and subsequent to the corporate event.
(10) The "base period" years for any current year generally consist of the five immediately preceding tax years, except that a t ransitional rule permits a taxpayer to elect an alternative rolling five-year base period for the first five affected tax years.
We recommend that the Treasury clarify that the taxpayer's actual historical foreign base period and debt-to-asset data will be used without limitation in 1991.
The base period will be the first four of the last five completed calender quarters proceding the benefit year.
The benefit year was redefined as the 52-consecutive-calendar-week period beginning with the first week of filing a valid claim, or the 53-consecutive-week period beginning the first week if filing a valid claim results in the overlapping of a quarter in the base period of a previously filed claim.