The assets used in a company for more than a year are subject to depreciation.
The Ministry of Finance issued a communique, which announces the useful lives according to the types of fixed assets.
On buildings used for commercial purposes, including Office buildings, an annual capital allowance of 2-10 % is deductible. Machinery and equipment are depreciated with a maximum of 50 %. Depreciation rates are doubled by using accelerated depreciation method.
The fixed assets can be depreciated on annual basis, only passenger cars should be depreciated starting from the month they have been acquired.
Acquired intangible rights such as goodwill, know-how, patents, trademarks, copyrights can be depreciated