What is the equivalent concept of FMV (fair market value), which is written into the US Tax code, but not the Canadian tax code (although Canada uses it too it seems). But I haven't seen it mentioned in other countries. How do valuations work in the world's major other economies (such as Europe, China, India, Russia, Mexico, etc.)?


Tax law is jurisdiction-dependent, and no broad answer is going to be relevant for all the countries you mentioned without being a textbook. Even in the US, not everything is valued the same way / time.

From an economic perspective, the nature of FMV doesn't change based on borders.

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