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Reply from RTUCCELL on Jun 28 at 5:41 PM @Roy, thanks for consideration
@Jesus, the request is correct.
For tangible asset purchase new, the depreciation of first yer is deducted of 50% respect to the % of the asset class, both for fiscal and statutory depreciation areas.
Pay attention the deduction is not accepted for intangible assets and for tangible assets purchased used.
In my company we obtained the the result setting depreciation keys in this way:
- keys wit fixed percentage (not based on useful life)
- control period 06 start of the year (for all kind of transaction)
- 50% deduction deduction in first year
The effect of this key is the following: asset value 1200€ purchased in May, depreciation 10%.
May depr = 25
Jun depr = 5
Jul depr = 5
Aug depr = 5
Sep depr = 5
Oct depr = 5
Nov deopr =5
Dec depr =5
Total 1st year = 60
Please consider that you need two depreciation keys
- one to be used for new asset following above settings
- one to be used for used tangible and intangible not having the deduction in fist year.
Hoping these information will help you, if useful please mark as helpful.
Regards
Rocco
| | | ---------------Original Message---------------
From: Jesus Grisalena
Sent: Tuesday, June 26, 2012 11:28 AM
Subject: Italy Tax Depreciation
In my company we are rolling out a new country, Italy, and one of the request is that for tax purposes, assets are only allowed to depreciate 50% on the first natural year, than the statutory depreciation.
this 50% depreciation is applied to the whole year, ej, If an asset that depreciates 20% is bought in august. the tax depreciation would be a 10% for the whole year (as if the asset was bought in January)
I've been able to have different depreciation rates into two natural years by using multishift depreciation keys, but this first year I was not able to depreciate with the values since january (the system depreciates only a 10% from august to December)
1. Is the request from business correct?
2. if so, how do you configure this setup? |
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