fixed Assets module Spain

A novelty for the Spanish market introduced with the SP 3 of Mago4 2.4 is the introduction of the localization of Fixed Assets module.

Edited by Marketing Department

In order for an ERP software to be defined as "international", it is essential that it is natively prepared to take into account the specific needs and peculiarities of different countries. Think, for example, of tax rules, traceability requirements, invoicing systems, and much more. Given this innate openness, taking action at the level of development on individual localizations will be able to adequately meet all the needs of the country to which the product is addressed.

You know that the ERP Mago4 is a management system born with these characteristics and that is able to adapt to any context: not by chance it is widespread in more than 30 countries around the world.

Today we are examining a specific case concerning financials-accounting management in Spain, extended by the localization of the Mago4’s Fixed Assets module. It is well known that each country has its own way of managing and calculating depreciation; based on the requests for the management of the administrative functions of the country Spain - for which the Fixed Assets module had not yet been localized - a whole series of specific features are available with the SP 3 of Mago4 2.4.

In Localization Spain, therefore, important functions have been activated for the Fixed Assets module, such as the management of tax and budgetary depreciation schemes (the latter called "technical" in Spain), default data relating to reasons, categories and parameters, partial deductibility in the tax system. In addition, the monthly calculation of the depreciation rates has been included, as well as the possibility of recording them in the accounts on a monthly, quarterly or annual basis, depending on a specific parameter.

An interesting note to confirm the flexibility of the Mago4 ERP: the management of depreciation for Spain descends from that currently in use in Hungary and Poland, whose features have been extended to the Spanish localization since the new update of Mago4 2.4.

The localization of the Fixed Assets module is just one of the new features introduced by the SP3 of the Mago4 2.4. To know all of them, please consult the release notes in the Private Area. Downloading the Service Pack is as always free if your MLU is active, otherwise we suggest you contact your local dealer, as well as to install the SP.

Extra Deduzione Fiscale 2016

The 2016 Italian Stability Law includes a measure aimed to encourage investment in new instrumental material goods.

Edited by Marketing Department

With the introduction of the so-called Super Depreciation within the Stability Law in 2016, the Italian government provides an interesting tax benefit: a maxi amortization of 140% of the cost of goods for personal income tax (IRPEF) and tax on company revenue (IRES). The rule applies to companies and professionals who buy (or activate leasing) of new (or never used) tangible instrumental goods in the period between 15 October 2015 and 31 December 2016.

What does it mean? Basically, in order to define the tax depreciation, the price of goods is considered increased by 40%. So, if the buyer purchases goods for a value of € 1,000, the depreciable cost will instead be considered as € 1400, with obvious advantages in the distribution of the cost incurred (actually lower).

The Super Depreciation also applies to goods purchased before 15.10.2015, as long they have been delivered or shipped after that date and not sold before 31/12/2016. However the rule has not to be applied to goods with depreciation rates lower than 6.5%, to the purchase of buildings and constructions, as well as the purchase of specific goods in particular sectors.

Thanks to the improvement introduced by Mago4 1.0 SP2 you can fully manage this new opportunity within the Fixed Assets. Mago in fact allows you to record the extra tax deduction by entering a tax increment movement and mapping a new Extra Deduction asset linked to goods covered by the Super Depreciation. The system performs automatic checks on the correctness for its actual deductibility, about the date of purchase, the minimum depreciation rate limit, the type of purchase and the presence of other connected Extra Tax Deductions assets.

Furthermore, Mago takes into consideration that the 40% deduction is carried out "outside" Accounting (through a decrease in Tax Return form), so the amount of amortization calculated for the Super Depreciation should not be recorded in Accounting.

Super Depreciation management is just one of the improvements of the new Mago4 SP2: discover them all by referring to the dedicated section in private area.


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