The replacement value is understood to mean:
"the amount required to acquire items of the same kind, quality, condition and age"
- If there is no replacement market, the highest outcome of:
- the new value after deducting an amount for physical depreciation or
- the new value after deducting an amount for economic obsolescence taking into account the state of maintenance of the item.
This includes the costs of drawing up, starting up, adjusting, engineering, project supervision, import duties, etc.