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Reply from RTUCCELL on Jun 29 at 6:03 PM Roy
I understand your considerations, the request seems illogical but for fiscal depreciation we work in this way:
fiscal authorities years ago fixed the percentages for asset categories and they stated for first year half percentage indipendently from acquisition date. For fiscal depreciation it is important the total amount not when you post it (theoretically we could make just one posting).
In order to avoid difference between statutory and fiscal depreciation, that could require tax calculation on differences, we usually apply above rule also for statutory depreciation.
It is very difficult for foreign consultant to understand Italian rules.
Hoping this will give more clarification ot the discussion
Best 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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