نوع مقاله : مقاله پژوهشی
نویسندگان
1 استادیار، گروه حقوق، دانشکدۀ علوم اجتماعی، دانشگاه بین‌المللی امام خمینی(ره)، قزوین، ایران.
2 استادیار، گروه حقوق، دانشکدۀ علوم اجتماعی، دانشگاه بین‌المللی امام خمینی، قزوین، ایران.
چکیده
کلیدواژه‌ها
عنوان مقاله [English]
نویسندگان [English]
Commercial companies start working with capital that may change over time. One of these changes is the increase in the price of the company’s assets compared to the day of acquisition. Therefore, the value of the company’s assets goes far beyond what is recorded in the company’s financial books, and by revaluation, the price of the company’s assets can be updated, and accordingly, the registered capital of the company can be increased. Revaluation of assets is bringing the real and nominal capital of the company closer. But the question arises whether companies can or should undertake revaluation. The other question is, how has Iran’s legal system stipulated the revaluation results, process, and formalities?
This library review research is done through the review of writings and research carried out on the issue of revaluation of assets. In this process, it is tried to reevaluate properties that have zero depreciation or close to it because otherwise, the company’s net profit can be severely affected by depreciation and reduced. Asset revaluation has positive points, such as clarifying the value of assets and raising companies’ credit ratings. It also possesses negative points, including the continuation of possible losses to the company, lack of real capital entering the company, increase in the amount of depreciation of assets, etc. Perhaps the most important positive effect of revaluation, especially in the case of companies admitted to the stock exchange, is the transparency of transactions and the prevention of damage to minor shareholders because companies may cause the market value of the company to go far away from its real value by preventing or not prioritizing the revaluation of assets. Also, the big shareholders acquire the shares belonging to the small shareholders at a small price.
Therefore, perhaps based on the theory of stakeholders, it could be claimed that revaluation or at least providing the basis for revaluation is among the tasks of the board of directors of the companies. In addition to small shareholders, the beneficiaries of the revaluation are also third parties because, through the revaluation process, they can have a clearer view of the real assets of the companies. In the relevant laws of Iran, there are no specific rules regarding the method and formalities of evaluating the assets. Still, according to the legal principles regarding the effects of the revaluation of assets, it seems that the extraordinary general assembly should approve such a matter of the company. It also seems that the revaluation of assets could be considered as the company’s withdrawal from the scope of Article 141 of the amendment bill of the Commercial Act. According to this article, after a company loses more than half of its registered assets, its capital must be reduced, or the decision to liquidate it should be taken. It seems that by using the revaluation of assets, it is impossible to prevent the implementation of Article 141.
Another issue is the relationship between revaluation of assets and tax rights. In the laws related to the revaluation of assets, if a company decides to sell the revalued property after the revaluation of assets, the difference between the book price and the revaluation price is recognized as profit, and the company must pay taxes. If the revaluation was not done, the company is not obligated to pay taxes, except the property transfer tax. Therefore, it seems that the tax regulations should be amended in this regard, and the price increase, which is the result of inflation, should not be recognized as profit. The authors propose the following: include the subject of renewal in the commercial law; determine the exact mechanism for revaluation of assets; oblige the company’s board of directors to reevaluate assets in certain time cycles; and amend tax regulations.
کلیدواژه‌ها [English]
منابع
الف) فارسی
https://qjma.atu.ac.ir/article_12761.html (20 فروردین 1402)
ب) خارجی
8. Ferran, e. (2008). Corporate finance law. Oxford.
9. Alexander, k. & Naimh, M. (2011). Law reform and financial market. Elgar financial
10. Erik f. Gerding, law (2014). Bubbles and financial regulation. Routledge.
11. Byttebier, k., & Kim D.B. (2016). Law and substability. Springer.
12.Gullifer, l., & Jennifer, P. (2014). Corporate finance law. Bloomsbury pub.
13. Barr, M., & howelle e.jackson (1997). Financial Regulation. Foundation press
14. Fathmaningrum, erin suryandari and satrio kusumo yudhanto (2019).determinants of fixed asset revaluation decision and its impact on market reaction: a comparative study in Indonesia and Singapore, journal of accounting and investment, vol 20, n 2, P 76-98, DOI: 10.18196/jai.2002118
15.Giani, R., & Dwi, M. (2018). Analysis of impact of implementation of fixed assets revaluation model in property, real state, construction and bank companies listed in capital market in 2015, advances in economics business and management research, volume 89.P 427-434, DOI:10.2991/apbec-18.2019.60
16. Evi, T. (2019). Dtermination of asset revaluation. Journal riset management , 4(3), 395- 404 , available at: https://dosen.perbanas.id/docs/wp-content/uploads/2020/08/BKD-2020-2021-Gasal-Jurnal-Determination-of-Asset.pdf (accessed 9 April 2023)
17. Hladika, M., Dannimir, G., & Ivana, B. (2021). Revaluation as a model of subsequent measurement of property, plant and equipment, croatin economic survey, 23(1), 63-95 . DOI:10.15179/ces.23.1.3
18. Lin.y.c & k.v peasnell (2000). Fixed asset revaluation and equity depletion in uk, journal of business finance and accounting, 2, 359-394, .DOI: 10.1111/1468-5957.00317
19. Mantysaari, P. (2005). Comparative corporate governance, springer
20. Sjafjell, B., & Benjamin, j. R. (2015). Company law and substainability. Cambridge
21. Harris, P.(2013). Corporate tax law. Cambridge.
)