Regarding Valuation Methodology for Tax Assessment of Real Property from the Perspective of International Valuation Standards

Appraisals for tax assessment of real property are the direction of valuation activities which is, by virtue of its purpose, of particular interest for central and local governments as well as for tax payers.The article discusses the substance of the term value when appraised as the tax base for real property tax, the valuation approaches to be applied for tax assessment as well as the approaches applied currently in the Republic of Moldova and internationally for tax assessment purposes. Its focus is in particular the analysis of the methodology applied, in terms of its compliance with best international practices, as reflected in the international (IVS), European (EVS) and US (USPAP) valuation standards, and on the development of suggestions regarding its improvement