realization

realization, n.

1. Conversion of noncash assets into cash assets.

2. Tax. An event or transaction, such as the sale or exchange of property, that substantially changes a taxpayer’s economic position so that income tax may be imposed or a tax allowance granted. Cf. RECOGNITION(4). [Cases: Internal Revenue 3115, 3178; Taxation 996. C.J.S. Internal Revenue §§ 61, 110; Taxation §§ 1732–1733.] — realize, vb.

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词条贡献者

资深译员Ting，亚洲顶尖法学院国际贸易专业，擅长翻译各类与国际贸易委员会调查程序相关的法律文件。