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In such systems, consolidating eliminations of income and expense are taken into account.The Netherlands system allows a group of Netherlands resident corporations and branches of foreign corporations to elect to be taxed as a Fiscal Unity.

Tax consolidation, or combined reporting, is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly owned or majority-owned companies and other entities (such as trusts and partnerships) as a single entity for tax purposes.

This generally means that the head entity of the group is responsible for all or most of the group's tax obligations (such as paying tax and lodging tax returns).

There are typically complex rules to deal with the acquisition of companies with tax losses or other tax attributes.

Both the United States and Australia have rules which restrict the use of such losses in the wider group.

For example, Member A sells Member B some goods at a profit.

This profit is not recognized until Member B sells the goods or recognizes depreciation expense on the goods.

Such gain or loss is affected by the member's basis in such shares.

Basis must be adjusted for several items, including taxable income or loss recognized by the other member, distributions, and certain other items. Additional adjustments apply in the case of intra-group reorganizations or acquisition of the common parent, and upon entry to or exit from the group by a member.

Assets can be transferred between group companies without triggering a tax on gain for the company receiving assets, dividends can be paid between group companies without incurring tax liabilities, and tax attributes of one group company such as imputation credits can be used by other companies in the group.

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