The government of Uruguay has modified the rules for depreciating intangible assets through Decree No. 181/015 of 6 July 2015. The new rules have changed the general depreciating period for intangible assets acquired from 1 July 2015.
Taxpayers will now have to depreciate an intangible asset over its expected useful life rather than depreciating over five years and intangible assets without any expected useful life will have to be depreciated over 10 years. In either of these cases taxpayers are bound to depreciate intangible assets beginning from either the month or the fiscal year following their acquisition of the asset. However, the prohibitions on goodwill depreciation or re-valuing intangibles will remain the same.
