International Telecommunications Company
Telecommunications company that provides wireless services and is an internet provider.
Telecommunications technology is always improving and advancing, causing older equipment to become obsolete both functionally and economically. An argument had to be produced showing the need for additional reductions above the normal allowance by the state.
Altus Group presented a case arguing additional valuation reduction on the basis that, due to obsolescence, the standard floor rate for depreciation is not indicative of the true value. This resulted in tax savings of over $1.5M for the client.
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Last updated on July 29th, 2019 at 05:03 pm