Intangible economic goods – a term that appears in many places in commercial and tax law, but with which many people can only do little at first glance. And in fact, intangible economic goods can literally be described as “incomprehensible” because, unlike material objects, they are not present in physical form. Rather, they exist only in digital form or on paper.
Basics: Concept of intangible assets
Assets within the meaning of tax law are, defined and specified by administrative instructions and jurisdiction, all assets. They can constitute operating or private assets, but regulations such as valuation (§ 6 EStG), depreciation (§ 7 EStG) and investment deduction (§ 7g EStG) only apply if the respective asset is used to generate income. Whether this is business or private assets is irrelevant at first.
Intangible economic goods fulfill all the requirements of an economic good. They have an independent economic value, are distinguishable and accessible to independent valuation. They can also be used regularly, for example to sell or rent. Thus, the economic advantages of intangible assets are also transferable to third parties, which is also the case for tangible objects (buildings, vehicles, machinery).
Via § 5 (1) sentence 1 half sentence 1 EStG, commercial law applies to the recognition of (intangible) assets, insofar as no deviating regulations have to be observed for tax purposes or election rights have been exercised. § 266 paragraph 2 A.I. HGB subdivides intangible assets of fixed assets as follows:
This article does not replace tax or legal advice in an individual case. Facts, current law, jurisdiction, documentation and implementation remain decisive.