Changes in Spain's Rules on Amortization of Intangible Assets

Spain has amended the rules regarding the amortization intangible assets through Audit Law 22/2015, which was published in the Official Gazette on 21 July 2015. The change applies from 1 January 2016.

Under Spain's current rules, intangible assets are amortized based on their useful life for both accounting and tax purposes. Intangible assets with unlimited useful life, including acquired goodwill, may not be amortized for accounting purposes but may be amortized over 20 years for tax purpos…