When a non-current asset is revalued the tax base is not affected as depreciation for tax purposes will continue to be based on original cost.

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Quizplus · Accepted Answer

The tax base of a non-current asset is not affected by revaluation for accounting purposes because for tax purposes, depreciation continues to be calculated based on the asset's original cost, not the revalued amount.

When a Non-Current Asset Is Revalued the Tax Base Is