Announcement of the State Administration of Taxation on Issues concerning the Tax Policies for Accelerated Depreciation of Fixed Assets
Announcement of the State Administration of Taxation on Issues concerning the Tax Policies for Accelerated Depreciation of Fixed Assets
Announcement of the State Administration of Taxation on Issues concerning the Tax Policies for Accelerated Depreciation of Fixed Assets
Announcement of the State Administration of Taxation [2014] No. 64
November 14, 2014
In order to implement the policies of the State Council for accelerated depreciation of fixed assets, promote the technological transformation of enterprises, and support the entrepreneurship and innovation, the issues concerning the implementation and improvement of the enterprise income tax policies for accelerated depreciation of fixed assets are hereby announced as follows in accordance with the Law of the People's Republic of China on Enterprise Income Tax (hereinafter referred to as the "Law on Enterprise Income Tax") and its implementing regulations as well as the Circular of the Ministry of Finance and the State Administration of Taxation on Improving the Enterprise Income Tax Policies relating to the Accelerated Depreciation of Fixed Assets (Cai Shui [2014] No. 75).
Article 1 For fixed assets (including self-constructed ones) purchased after January 1, 2014 by enterprises in six industries covering biopharmaceutical manufacturing, specialized equipment manufacturing, manufacturing of railway, vessel, aerospace and other transportation equipment, manufacturing of computer, communication equipment and other electronic equipment, manufacturing of instruments and meters and information transmission, software and information technology services (hereinafter referred to as the "Six Major Industries"), their depreciation years are allowed to be shortened by no less than 60% of the corresponding depreciation years as prescribed by the Law on Enterprise Income Tax, or the accelerated depreciation under the double declining balance method or under the sum of the years digits method may be adopted.
The Six Major Industries shall be determined in accordance with the Industrial Classification and Codes for National Economic Activities (GB/4754-2011) issued by the National Bureau of Statistics.
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Announcement of the State Administration of Taxation [2014] No. 64
November 14, 2014
In order to implement the policies of the State Council for accelerated depreciation of fixed assets, promote the technological transformation of enterprises, and support the entrepreneurship and innovation, the issues concerning the implementation and improvement of the enterprise income tax policies for accelerated depreciation of fixed assets are hereby announced as follows in accordance with the Law of the People's Republic of China on Enterprise Income Tax (hereinafter referred to as the "Law on Enterprise Income Tax") and its implementing regulations as well as the Circular of the Ministry of Finance and the State Administration of Taxation on Improving the Enterprise Income Tax Policies relating to the Accelerated Depreciation of Fixed Assets (Cai Shui [2014] No. 75).
Article 1 For fixed assets (including self-constructed ones) purchased after January 1, 2014 by enterprises in six industries covering biopharmaceutical manufacturing, specialized equipment manufacturing, manufacturing of railway, vessel, aerospace and other transportation equipment, manufacturing of computer, communication equipment and other electronic equipment, manufacturing of instruments and meters and information transmission, software and information technology services (hereinafter referred to as the "Six Major Industries"), their depreciation years are allowed to be shortened by no less than 60% of the corresponding depreciation years as prescribed by the Law on Enterprise Income Tax, or the accelerated depreciation under the double declining balance method or under the sum of the years digits method may be adopted.
The Six Major Industries shall be determined in accordance with the Industrial Classification and Codes for National Economic Activities (GB/4754-2011) issued by the National Bureau of Statistics.
......