Article 60 of the Regulations for the Implementation of the Enterprise Income Tax Law of People's Republic of China (PRC) stipulates that the minimum depreciation period of fixed assets is as follows, unless otherwise stipulated by the competent departments of finance and taxation of the State Council:

(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.

According to the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance of People's Republic of China (PRC) on the Treatment of Value-added Income Tax on Enterprise Assets Appraisal (Caishuizi [1997] No.077) and the Supplementary Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance of People's Republic of China (PRC) on the Treatment of Value-added Income Tax on Enterprise Assets Appraisal (Caishuizi [1998] No.050):

When an enterprise evaluates and increases its assets in the shareholding system reform, its account should be adjusted accordingly. Depreciation may be accrued for the appreciation of fixed assets, but it shall not be deducted when calculating taxable income. When handling the annual tax return, the enterprise shall submit the relevant calculation data to the competent tax authorities for examination and approval.

Extended data 1. Pay attention to the scope of depreciation. According to the current accounting standards for business enterprises, enterprises should accrue depreciation for all fixed assets except the following circumstances:

A. Fixed assets that have been fully depreciated and continue to be used;

B, in accordance with the provisions of the separate valuation as fixed assets accounted for land;

C. Fixed assets under renovation.

2. Unused machinery and equipment, instruments and meters, means of transport, tools and appliances, and seasonal shutdown should also be depreciated.

3. Pay attention to the provision of fixed assets, that is to say, consider the provision for impairment of fixed assets.

4. Pay attention to the determination of annual depreciation amount during depreciation period.

Baidu Encyclopedia-Depreciation of Fixed Assets