What is a supplier based intangible?

The term “supplier-based intangible” means any value resulting from future acquisitions of goods or services pursuant to relationships (contractual or otherwise) in the ordinary course of business with suppliers of goods or services to be used or sold by the taxpayer.

What are examples of intangible resources?

Examples of intangible assets

• patented technology, computer software, databases and trade secrets.
• trademarks, trade dress, newspaper mastheads, internet domains.
• video and audiovisual material (e.g. motion pictures, television programmes)
• customer lists.
• mortgage servicing rights.

What are the three types of intangible resources?

Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.

What are Sec 197 intangibles?

Section 197(d)(1) provides that the term “section 197 intangible” means (A) goodwill; (B) going concern value; (C) any of the following intangible items: (i) workforce in place including its composition and terms and conditions (contractual or otherwise) of its employment, (ii) business books and records, operating …

What does the term supplier based intangible mean?

The term “supplier-based intangible” means any value resulting from future acquisitions of goods or services pursuant to relationships (contractual or otherwise) in the ordinary course of business with suppliers of goods or services to be used or sold by the taxpayer.

When is an intangible asset acquired in a business combination?

However, if an intangible asset is acquired in a business combination the probability recognition criterion in IAS 38.21(a) is always considered to be satisfied as uncertainties regarding future economic benefits are reflected in the asset’s fair value (IAS 38.33).

How are intangibles valued under IFRS 3 business combination?

IFRS 3 ‘Business Combinations’ (IFRS 3) requires an extensive analysis to be performed in order to accurately detect, recognise and measure at fair value the tangible and intangible assets and liabilities acquired in a business combination.

What can be included in a section 197 intangible?

For purposes of this section, the term “section 197 intangible” shall not include any of the following: (B) under an existing futures contract, foreign currency contract, notional principal contract, or other similar financial contract. Any interest in land.