An asset whose acquisition and production costs (minus the included value added tax) do not exceed an amount set by law.
Normally, a low-value asset can be fully depreciated within the period in which it is acquired.
"Low-value assets" (GWG) refer to assets with a minimal market value, which are therefore taxed differently from others Fixed assets. In SAP Business One there is the function Low Value Assets for the management of GWGs.
This function can be used to record items that are considered to be GWG, e.g. office furniture, computers and tools. The purchase price, residual value and useful life can then be determined. SAP Business One automatically calculates the depreciation costs and helps monitor the tax treatment of the GWGs.