goodwill, credit, loan, credit loans, loans credit
The superintendencies of societies and values identified make the amortization of the goodwill acquired by the purchase of shares of social interest in the time of exploitation of the intangible that may not exceed ten (10) years, according to methods of recognized technical value. In general, intangible assets should be amortized systematically over their useful life, in accordance with article 66 of the regulatory decree 2649 from 1993.
The methods of amortization of intangible assets, in general, are the straight line, production units and other recognized technical value, in accordance with article 66 of the same regulatory decree 2649 from 1993.
The account of the PUC for amortization is the 1698.
At the close of the exercise should be recognized the contingency of loss adjusting and accelerating depreciation, according to article 66 of the regulatory decree 2649 from 1993.
Tax aspects of the acquired goodwill
Article 142 of the tax statute establishes that the amortization of necessary investments for the purposes of business or income-producing activity is deductible. Depreciable investments are disbursements made or caused, subject to demerit and according to the technical accounting should be recorded as assets for its repayment in more than one year or taxable period. The cost of intangible assets susceptible of demerit is depreciable.
Article 279 of the tax statute establishes the equity value of any title acquired intangible assets corresponds to acquisition cost less the depreciation granted. Obviously, acquisition cost and accumulated amortization must be adjusted for inflation, in accordance with title V of book I of the tax statute.
The amortization of intangible assets, in accordance with article 143 of the tax statute, must take place in a term not less than five (5) years, unless it is demonstrated that the nature or duration of the business, depreciation should be in less. In the year that ends the business or activity can be appropriate adjustments in order to amortize the entire investment. The tax rule does not require, for this specific case of the amortization of intangibles, depreciation should do for straight line, reduction of balances or other method of recognized technical value, as it requires it for depreciation in the case of supply of goods, works, facilities or other assets under concession contracts, joint venture “joint venture”.
Therefore, acquired as an intangible asset, goodwill is amortizable in a period not less than five (5) years, with the method provided by the taxpayer; and such depreciation is deductible if the investment is required, carried out for the purposes of the business or activity, subject to demerit, and according to the technical accounting must register as an asset to their depreciation in more than one (1) year or taxable period.
The cost of disposal of intangible property purchased, for tax purposes, according to article 74 of the tax statute, such as industrial and literary, artistic and scientific property, patents of invention, trademark, good – will, copyright or other intangibles acquired any title, is determined by the acquisition cost less depreciation granted, adjusted for inflation.