Accelerated depreciation support for six major industries

Six major industries received a preferential policy, the coverage from large enterprises to small micro-enterprises.

Recently, the Ministry of Finance and the State Administration of taxation jointly issued the "on the improvement of fixed assets accelerated depreciation Enterprise Income tax Policy Notice" (hereinafter referred to as "notice").

"Accelerated depreciation of fixed assets means that in the early days of an asset it would be possible to deduct more tax and pay less tax." Money has time value, the early tax on the enterprise means to get an interest-free loan. Zhao, partner of China Tax Division, told the first financial journal.

The circular provides for the manufacturing of pharmaceuticals, specialized equipment, railways, ships, aerospace and other transport equipment, computers, telecommunications and other electronic equipment manufacturing industries, instrumentation manufacturing, information transmission, New fixed assets purchased after January 1, 2014 by enterprises in 6 industries, such as software and information technology services, can shorten the depreciation period or adopt accelerated depreciation methods.

In Zhao's view, tax support and incentives for these 6 industries represent an industrial policy.

As a continuation of these terms, the notice also stipulates that for the 6 small profit-making enterprises in the above-mentioned industries, after January 1, 2014, newly acquired equipment and equipment for the development and production of common use, the unit value of not more than 1 million yuan, allows one-time to be included in the current cost of the calculation of taxable income deduction, No longer calculates the depreciation in the year, the unit value exceeds 1 million yuan, may shorten the depreciation period or adopt the method of accelerated depreciation.

Zhao to this reporter said that the terms for many small micro-enterprises, the impact will be relatively large.

The notice also redefines the scope of the fixed assets that can be included in the deduction, the fixed assets held by all industry enterprises with a unit value not exceeding 5000 yuan, allowing a one-time crediting of the current cost fee to be deducted from the calculation of taxable income, no longer calculated as depreciation for the year.

Zhao told reporters that considering the current price level and the rising cost of living, 5000 yuan is equivalent to improve the standard of fixed assets, so that enterprises in the operation process has a certain standard.

"A separate policy is really limited, but it is a combination of boxing." Zhao told reporters that this year, the state has issued a series of specific industries or small micro-enterprises tax concessions, indicating that the current tax reform is the general direction.