Home > Tax Incentives > Text

Tax IncentivesIn case of divergence of interpretation, the Chinese text shall prevail.

Notice on further improving the Enterprise income Tax Policy of Accelerated Depreciation of Fixed Assets

Document No.:

Taxes:Tax Incentives

Date of Promulgation:

IssueDepartment:Ministry of Finance,State Administration of Taxation

Date of Implementatio:2015-09-17

Annex:

Finance Departments (Bureaus), State Taxation Bureaus and Local Taxation Bureaus of all provinces, autonomous regions, municipalities directly under the Central Government, cities specifically designated in the state budgetary plan and Finance Bureau of Xinjiang Production and Construction Corps,

In accordance with the decision of the Standing Conference of the State Council, the enterprise income tax policies related to accelerated depreciation of fixed assets are hereby notified as follows:

  1. As for the fixed assets newly bought after January 1st, 2015 by the enterprises in the key industries of the fields of light industry, textile, machinery and automobile (for the specific scope, see the attachment), the enterprises can choose the methods of shortening the useful life of the fixed assets or accelerated depreciation of the fixed assets.
  2. The instrument and equipment, which were bought for both research and production and operation by the small-scaled enterprises with low profits in the above-mentioned industries after January 1st, 2015 and whose value is less than one million yuan RMB, are allowed to be included in the cost of the current period in a lump sum and be deducted when calculating the taxable income, and their depreciation is not calculated annually anymore; for the instrument and equipment whose value is more than one million yuan RMB, the enterprises are allowed to choose the methods of curtailing the depreciation year or accelerated depreciation.
  3. Where the enterprises curtail the depreciation year according to the provisions of Articles I and II of the Notice, the shortest depreciation year shall not be less than 60% of the depreciation year set by the provision of Article LX of the Enterprise Income Tax Law of the People’s Republic of China; where the enterprises adopt the method of accelerated depreciation, they can use double declining balance method or sum of years digits method.
  4. In accordance with the relevant provisions of the Enterprise Income Tax Law of the People’s Republic of China and its implementing regulations, the enterprises can, according to their own needs of production and operation, choose not to implement the accelerated depreciation policy.
  5. The Notice shall be executed from January 1st, 2015. Those, which are not calculated and dealt with in accordance with the provisions of the Notice in the first three quarters of 2015, shall uniformly enjoy the preferential treatment when the advance tax returns are filed in the fourth quarter of 2015 or shall be dealt with when the final settlement of 2015 is made.
  6.  
  7. Ministry of Finance State Administration of Taxation
  8. September 17th, 2015

The Attachment

The Scope of the Key Industries in the Fields of Light Industry, Textile, Machinery and Automobile

Code

Category

Note

Broad category

Medium category

Small category

268

Daily chemical product manufacturing

Light industry

2681

 Soap and synthetic detergent  manufacturing

2682

 Cosmetics manufacturing

2683

 Oral hygiene product manufacturing

2684

 Fragrance and flavor manufacturing

2689

 Other daily chemical product manufacturing

27

Pharmaceuticals manufacturing

Light industry

271

 Chemical medicine crude drug Manufacturing

272

 Chemical medicine preparation manufacturing

273

 Chinese medicine prepared in ready-to-use forms processing

274

 Prepared Chinese medicine manufacturing

275

 Veterinary medicine manufacturing

277

 Hygienic material and medical supply manufacturing

13

Agricultural and sideline food processing industry

Light industry

131

 Grain milling

132

 Feed processing

133

  Plant oil processing

134

 Sugar industry

135

 Slaughtering and meat processing

136

 Aquatic product processing

137

 Vegetable, fruit and nut processing

139

 Other agricultural and sideline food processing

14

Food manufacturing

Light industry

141

 Baking food manufacturing

142

 Candy, chocolate and preserved fruit manufacturing

143

 Instant food manufacturing

144

 Dairy manufacturing

145

 Canned food manufacturing

146

 Condiment and fermented product manufacturing

149

 Other food manufacturing

17

Textile industry

Textile

171

 Cotton spinning and weaving and textile printing, dyeing and finishing

172

 Wool spinning and weaving and textile dyeing and finishing

173

 Linen spinning and weaving and textile dyeing and finishing

174

 Silk spinning and weaving and textile printing, dyeing and finishing

175

 Chemical fiber weaving and textile printing, dyeing and finishing

176

 Knitted and crocheted fabrics and their product manufacturing

177

 Household textile product manufacturing

178

 Non-household textile product manufacturing

18

Textile garment and ornament industry

Textile

181

 Woven garment manufacturing

182

 Knitted or crocheted garment manufacturing

183

 Ornament manufacturing

19

Leather, fur, feather and their product and shoemaking industry

Light industry

191

 Leather tanning

192

 Leather product manufacturing

193

 Fur tanning and product processing

194

 Feather (down) processing and product manufacturing

195

 Shoemaking industry

20

Limber processing, wooden, bamboo, cane, palm fiber and straw product industry

Light industry

201

Limber processing

202

 Artificial board manufacturing

203

 Wooden product manufacturing

204

 Bamboo, cane, palm fiber and straw product manufacturing

21

Furniture manufacturing

Light industry

211

 Wooden furniture manufacturing

212

 Bamboo and cane furniture manufacturing

213

 Metal furniture manufacturing

214

 Plastic furniture manufacturing

219

 Other furniture manufacturing

22

Paper making and paper product industry

Light industry

221

 Paper pulp manufacturing

222

 Paper making

223

 Paper product manufacturing

23

Printing and recording medium duplicating industry

Light industry

231

 Printing

232

 Bookbinding and services related to printing

233

 Recording medium duplicating

24

Cultural and educational, art and craft, sporting and entertainment product manufacturing

Light industry

241

 Cultural and educational office stationary manufacturing

242

 Musical instrument manufacturing

243

 Art and craft manufacturing

244

 Sporting goods manufacturing

245

 Toy manufacturing

28

Chemical fiber manufacturing industry

Textile

281

 Cellulose, fibrous material and fiber manufacturing

282

 Synthetic fiber manufacturing

292

 Plastic product industry

Light industry

2921

  Plastic film manufacturing

2922

  Plastic board, pipeline and shape manufacturing

2923

  Plastic thread, rope and knitted product manufacturing

2924

  Foamed plastic manufacturing

2925

  Plastic artificial leather and synthetic leather manufacturing

2926

  Plastic packaging box and container manufacturing

2927

  Daily-use plastic product manufacturing

2928

  Plastic part manufacturing

2929

  Other plastic product manufacturing

33

Metal product industry

Machinery

331

 Structural metal product manufacturing

332

 Metal tool manufacturing

333

 Container and metal packaging container manufacturing

334

 Metal thread, rope and other product manufacturing

335

 Construction and safety metal product manufacturing

336

 Metal surface treatment and heat treatment processing

337

 Enamelware manufacturing

338

 Daily-use metal product manufacturing

339

 Other metal product manufacturing

34

General equipment manufacturing industry

Machinery

341

 Boiler and prime equipment manufacturing

342

 Meatal processing machinery manufacturing

343

 Material handling equipment manufacturing

344

 Pump, valve, compressor and similar machinery manufacturing

345

 Bearing, gear and transmission component manufacturing

346

 Oven, wind turbine, weighing instrument, packaging equipment manufacturing

347

 Cultural and office machinery manufacturing

348

 General component manufacturing

349

 Other general equipment manufacturing

36

Automobile manufacturing industry

Automobile

361

 Complete automobile manufacturing

362

 Refit automobile manufacturing

363

 Low-speed truck manufacturing

364

 Trolley manufacturing

365

 Automobile body and trailer manufacturing

366

 Automobile component and accessory manufacturing

38

Electric apparatus and equipment manufacturing industry

Machinery

381

 Electric motor manufacturing

382

 Electricity transmission and distribution and control equipment manufacturing

383

 Electric wire, cable, optical cable and electric material manufacturing

384

 Battery manufacturing

385

 Household electrical equipment manufacturing

386

 Non-household electrical equipment manufacturing

387

 Lightening apparatus manufacturing

389

 Other electrical machinery and equipment manufacturing

Note: the above-mentioned code and category names come from the Classification of National Economic Industries (GB/T 4754-2011)

 

 

 

Customer service

88393678(Information Support)

songf@eshui.net(Information Support)

Public messages

Disclaimer

All the information on this website is reprinted from government websites, newspapers, Gazettes, domestic and foreign medias and other publications.

Please check the official publications, originals of outgoing documents and sources of reprint for purposes of authenticity, accuracy and legitimacy of the information published on this website.

The information on, the materials provided and the performance of this website is provided on an "as is" and "as available" basis. We make no warranty of any kind in relation to or connection with the availability, accuracy or reliability of this website or any of its materials and information, including but not limited to any warranties, representations, and guarantees as to, title, risk, non-infringement, accuracy, reliability, merchantability, use, correctness, fitness for a particular purpose or otherwise, or that use of this website will be uninterrupted or error-free. If you become aware of any inaccuracies or errors in any materials or information on our website, we would be appreciate it if you would inform us of such inaccuracies or errors immediately by emailing us at songf@eshui.net.

We shall not under any circumstances be liable for any direct, indirect, incidental, special or consequential damages, losses, liabilities or any business interruption in relation to the use of or inability to use any information contained on this website (whether foreseeable or not and even if we have been informed of such likelihood).

This website may contain links to third-party websites which are not maintained by us. We are not responsible for the content of those websites. The inclusion of any link to such websites does not imply approval or an endorsement by us of the linked websites or the contents thereof and we make no representations or warranties concerning the linked sites nor shall it be liable for the same.

Copyright: Ministry of Commerce, the People's Republic of China

Supported by:China International Electronic Commerce Center

Tel: (86 10) 68651200(Customer Service)

Fax: (86 10) 65677512

Information Support: Beijing Zerui Certified Public Accountants Co.,Ltd.

Approved by:Department of Electronic Commerce and Informatization, Ministry of Commerce, PRC

Jing ICP Bei No. 05004093

E-mail:hanlx358@126.com

Tel: 61943289 - 8001