Articles 59 and 60 of the Regulations for the Implementation of the Enterprise Income Tax Law of People's Republic of China (PRC) (the State Council Order No.5 1 2 of the People's Republic of China), which came into effect on June 5438+ 10/2008, stipulate that the depreciation of fixed assets calculated by the straight-line method is allowed to be deducted. The enterprise shall calculate the depreciation from the next month when the fixed assets are put into use; Depreciation of fixed assets that have ceased to be used shall stop from the next month of the month of cessation of use. An enterprise shall, according to the nature and use of fixed assets, reasonably determine the estimated net salvage value of fixed assets. Once the estimated net residual value of fixed assets is determined, it shall not be changed. Unless otherwise stipulated by the competent departments of finance and taxation of the State Council, the minimum depreciation period of fixed assets is as follows:
(a) houses and buildings, for 20 years;
(2) Aircraft, trains, ships, machines, machinery and other production equipment, 10 year;
(3) Appliances, tools and furniture. 5 years related to production and business activities;
(4) Four years for vehicles other than airplanes, trains and ships;
(five) electronic equipment, for 3 years.
The new tax law is consistent with accounting standards in terms of net residual value of fixed assets, which is determined by enterprises themselves. The straight-line method is required in the depreciation method tax law, and there is also a minimum depreciation period for various fixed assets. Therefore, when determining the depreciation and net salvage value of fixed assets, enterprises should comprehensively consider the different requirements of accounting and tax laws in order to make reasonable tax adjustments.