The state administration of taxation on further perfecting the accelerated depreciation of fixed ass

The state administration of taxation on further perfecting the accelerated depreciation of fixed assets of enterprise income tax policy

Finance Department (Bureau), State Taxation Bureau, Local Taxation Bureau of provinces, autonomous regions, municipalities directly under the Central Government and cities under separate State planning, Finance Bureau of Xinjiang Production and Construction Corps:

According to the relevant decisions of the State Council executive meeting spirit, regarding the accelerated depreciation of fixed assets of enterprise income tax policy issues notice is as follows:

I. For the fixed assets newly purchased after January 1, 2015 by enterprises in four key industries, such as light industry, textile, machinery and automobile (see Annex for the specific scope), enterprises may choose to shorten the depreciation life or adopt the method of accelerated depreciation.

2. For instruments and equipment newly purchased after January 1, 2015 by small low-profit enterprises in the above-mentioned industries, whose unit value does not exceed RMB 1 million yuan, it is allowed to be included in the one-time cost of the current period and deducted when calculating the taxable income amount, instead of calculating the annual depreciation; If the unit value exceeds 1 million yuan, the enterprise may choose to shorten the depreciation period or adopt the method of accelerated depreciation.

3. Where an enterprise shorts the depreciation period in accordance with the provisions of Article 1 and Article 2 of this Notice, the minimum depreciation period shall not be less than 60% of the depreciation period stipulated in Article 60 of the Implementing Regulations of the Enterprise Income Tax Law; If the accelerated depreciation method is adopted, the double decreasing balance method or the sum of years method may be adopted.

In accordance with the RELEVANT PROVISIONS of the Enterprise INCOME Tax Law and its IMPLEMENTING REGULATIONS, enterprises may also choose not to implement the accelerated depreciation policy according to the needs of their own production and operation.

Iv. This Notice shall come into effect as of January 1, 2015. If the first three quarters of 2015 cannot be calculated and processed according to the provisions of this notice, the preferential treatment will be unified in the fourth quarter of 2015 when the pre-payment is declared or the 2015 annual settlement is handled.

Attachment: light industry, textile, machinery, automobile four areas key industries

Ministry of Finance State Administration of Taxation

September 17, 2015