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V1448-23 ·26 May 2023 ·consulta-vinculante Medium impact
Tax

Depreciation of tangible fixed assets begins when the asset is ready for use in the production process

A query was raised regarding when tangible fixed assets are considered to be in working condition to commence depreciation. The DGT ruled that the accounting concept of being 'ready for use' must be applied.

In 6 key points

How it affects those involved

This clarification ensures consistency between tax and accounting treatments regarding the timing of depreciation for tangible assets.

Lifecycle

2023-05-26PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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