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Intercompany Transactions for Fixed Assets
Hi,
what’s the best practice in moving fixed assets from one subsidiary to another?
Is it Asset Transfer?
Can you record it by Asset Disposal by Sale or by Write off?
- Issue: For tax purposes, intercompany sales should be treated as an arm’s length transaction and this amount should be transferred at market value (different than NBV)
- Is it possible to set a sale price for this internal transfer different than the Net Book Value or should the asset be disposed of from old entity and create new asset in new entity?
- How the remaining period of deprecation is calculated when assets are transferred? (Total lifetime minus depreciated period?)
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