Changes to the writing down of intangible fixed assets

The Official State Journal of 17 December 2016 included the publication of Royal Decree 602 of 2 December 2016, which amended, among other regulations, the General Chart of Accounts and the Rules for the Preparation of Consolidated Annual Accounts.

Notable among the measures adopted was the regulatory implementation of the changes introduced in respect of the writing down of intangible fixed assets under Spanish Accounts Auditing Act 22 of 20 July 2015.

Pursuant to the contents of the First Final Provision of the aforementioned Act, all intangible assets shall have a defined operational life and must be written down over a maximum of 10 years when their operational life cannot be reliably determined, from 1 January 2016 onwards.