Fixed assets are a specific type of asset belonging to the company. The main features are the physical nature (as opposed to intangible assets), the envisaged period of use for more than one year and the use for business purposes.
Fixed assets are amortised — the cost of acquiring or manufacturing them is not included in the cost of obtaining revenue on a one-off basis, instead being ‘distributed into instalments’. Typical examples of assets in this category are buildings, buildings, premises and machines. Fixed assets may be withdrawn from business activities and become private assets of the taxpayer. It is also possible to sell them.
If the measure is withdrawn from business activities and transferred to the taxable person for personal purposes, such an operation shall not be treated as income and shall therefore not be taxed. However, this does not mean that this can be freely available without any effect on income taxes.
If, for example, the car is taken over to personal property and then sold, the entire operation can be revenue and cause the need to pay income tax. This depends on the time since the withdrawal of the permanent business measure.
If the measure has been sold before expiry six years first on the day of the month following that in which it was withdrawn from business activity, then taxable income arises. In other words, such an operation (sale of a permanent measure withdrawn from business activity) may be tax-neutral, but it is necessary to pass the time since withdrawal (a little more than six years).
The tax consequences are similar in the event of liquidation of economic activities. Here too, a six-year period is crucial.
It should be remembered that in the event of liquidation of business activities, it is necessary to draw up a list of assets, including the name of the component concerned, the date of acquisition, the purchase costs and the sum of depreciation premiums.
Taxable income arises when, from the first day of the month following the month of liquidation of the business until the day of sale of the fixed asset has not elapsed six years.
It should be noted that in the event of the sale of a fixed asset, the taxable amount is the difference between the revenue from its disposal and the cost of the acquisition or manufacture less the depreciation deduction.