Low value fixed assets
The cutoff value for capitalizing fixed assets is generally included in tax law. Assets that are below that value are written off to profit and loss when acquired. Larger companies usually work with a higher threshold.
Typically, assets that are above the capitalization cutoff value, but below a specific threshold, are grouped into a pool. Each pool is treated as a single asset and depreciated over a fixed period, regardless of sales, withdrawal, or impairment.
Netherlands specific
The 450 EUR threshold is included in tax law. Assets that are less than 450 EUR do not need to be capitalized or depreciated. They are written off to profit and loss when they are acquired.
For accounting purposes, many companies already use this threshold, although some larger companies use a higher threshold.
How Infor meets this requirement
See the Asset Management User Guide.