Revaluation represents a further evaluation model of tangible assets. According to national accounting regulations, this model can be applied by local entities on a voluntary basis, under accounting policies. The revaluation of tangible assets brings in multiple accounting problems, main ones concerning: -the manner and frequency of tangible assets revaluation; -selecting the base for determining the fair value of revaluated tangible assets; -reflection of revaluation differences in chart of accounts; -revaluation surplus settlement; -tax effects of the intangible assets revaluation. The article provides recommendation regarding problem solving of the above mentioned problems in accordance with international accounting standards and practices.