This concept paper, published by the Valuation Standards Board and ICAI Registered Valuers Organisation, delves into the complexities of estimating discount rates for valuation purposes. It covers various methodologies, including the Cost of Equity (COE) and Weighted Average Cost of Capital (WACC), and explores factors influencing these rates. The document is a valuable resource for registered valuers and other professionals involved in financial valuation, aiming to enhance their understanding and application of discount rate estimation techniques.