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law and regulation lack for tax and land is supcict to deprecation why you cant depreciate...

law and regulation

lack for tax and land is supcict to deprecation why you cant depreciate the land

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Answer #1

Whether it is law and regulation or it be a tax provision, any country won't allow land to be depreciated. It is not much of a big reason for not depreciating land. It is because land is assumed to have unlimited useful life.

It is not required to allocate the cost of land to the accounting periods it is used in unlike other assets because the useful life of the land is infinite and therefore we cannot arrive at an amount to allocate every year.

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