valuation of unlisted stock for estate tax purpose

According to the Taiwaneese treasury regulation, valuation of unlisted stock for estate tax purpose is based on the value of corporation'snet asset.The court has traditionally been supporting this method, regardless of the fact that Taiwan Constitution demand that such matter should be written in the code itself, and the method of valuation should accord with the true economic benefit which the tax payer receive through inheritance.

The author tries to set a more reasonable way of calculating corporation's net asset specially for estate tax purpose, but still argue that market value or EPS are more representative in the valuation of unlisted stock