Amortización (depreciation) is how you deduct the cost of a durable business asset —a computer, furniture, a vehicle— spread over its useful life, rather than deducting it all in the year you buy it.
Amortización is how you deduct an asset you'll use for several years. Instead of subtracting the whole cost at once like a normal expense, you spread it over its useful life.
For example, a €1,000 computer isn't deducted in full in year one: a portion is deducted each year according to official tables. The idea is that the expense is recognised at the pace the asset is used and wears out, not all at the moment of purchase.
Amortización sounds technical, but the idea is simple: what lasts for years is deducted over years. For small purchases there are rules that let you deduct them sooner; your gestoría will tell you what fits each case.
As a general rule, durable assets are depreciated: deducted spread over their useful life according to official tables. There are cases of accelerated depreciation or free depreciation for certain amounts or situations; confirm them with your adviser.
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