727.This section introduces the five sections that follow. It is based on section 100 of ICTA. The five sections (including section 179 which defines “connected persons”) deal with valuation of stock that is transferred to another trader. Subsection (4) of this section deals with valuation in any other case.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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