Q & A Database
The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.
Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.
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ArchivedEffective: 1 January, 2006 - 31 December, 2019Categories: Private EquitySource: Interpretive Guidance for Private Equity
How should tax payable be treated?
In general, any taxes payable by the investors should be ignored in calculating the returns both net- and gross-of-fees. Some small withholding tax or income tax deducted prior to receipt by the fund or payable by the fund may arise and the net- and gross-of-fees cash flows should be reduced by these amounts.