The latest depreciation period of fixed assets 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: (1) 20 years for houses and buildings; (2) Aircraft, trains, ships, machines, machinery and other production equipment, which is 10 year; (three) appliances, tools, furniture, etc. related to production and business activities, for 5 years; (4) 4 years for means of transport other than airplanes, trains and ships; (five) electronic equipment, for 3 years. "Interpretation" This article specifies the minimum depreciation period of fixed assets. Although the depreciation period of fixed assets of enterprises is only related to the time sequence of tax payment, it is determined by the influence of various factors such as the annual fiscal revenue requirements of the country, changes in economic conditions such as inflation or austerity, and if the depreciation period of fixed assets is not made a basic requirement, it will still affect the tax interests of the country. Therefore, according to the characteristics of different types of fixed assets, the state needs to make a basic mandatory provision on the depreciation period of different types of fixed assets to avoid a big impact on the national tax interests. The original Provisional Regulations on Income Tax of Domestic-funded Enterprises and its detailed rules for implementation did not directly stipulate the depreciation period of fixed assets, but made general provisions, and the depreciation period of fixed assets was implemented with reference to other relevant provisions of the state. The detailed rules for the implementation of the former foreign investment tax law stipulated the minimum depreciation period of fixed assets: the minimum depreciation period of fixed assets is as follows: (1) 20 years for houses and buildings; (2) Trains, ships, machines, machinery and other production equipment, 10 year; (three) electronic equipment and means of transport other than trains and ships, as well as appliances, tools and furniture related to production and business operations, are five years. This article basically follows the provisions of the detailed rules for the implementation of the foreign investment tax law, but it has also been slightly adjusted: first, it has increased the power granted to the competent departments of finance and taxation of the State Council to make exceptions; Secondly, the depreciation period of aircraft is changed from 5 years to 10 years; Secondly, the minimum depreciation period of means of transport other than airplanes, trains and ships is changed from 5 years to 4 years; Finally, the minimum depreciation period of electronic equipment is changed from 5 years to 3 years. The provisions of this article can be understood from the following aspects. (1) The minimum depreciation period of houses and buildings is 20 years. Houses and buildings, as the most important fixed assets, have relatively special structures and attributes, relatively long service life and relatively high value, and the expression of their use value is also a relatively long process. According to the requirements of the principle of matching income and expenditure, their depreciation period should also be relatively long. Therefore, this article stipulates that the minimum depreciation period of houses and buildings is 20 years, which basically reflects the actual use of houses and buildings. Houses and buildings mentioned in this article refer to houses, buildings and their ancillary facilities for production, business use and service for workers' life and welfare, in which houses include factories, business premises, office premises, warehouses, accommodation premises, canteens and other houses; Buildings, including towers, ponds, troughs, wells, racks, sheds (excluding temporary sheds, carports and other simple facilities), yards, roads, bridges, platforms, docks, culverts, gas stations and pipelines, chimneys, fences, etc. independent of houses and machinery and equipment; The ancillary facilities of houses and buildings refer to the ancillary facilities that are inseparable from houses and buildings and whose values are not calculated separately, including ventilation, water and oil pipelines, communication and power transmission lines, elevators and sanitary equipment in houses and buildings. (2) The minimum depreciation period for airplanes, trains, ships, machines, machinery and other production equipment is 10 year. Compared with other means of transportation, airplanes, trains and ships have stronger performance, higher value, relatively longer service life and correspondingly longer depreciation life. Machines, machinery and other production equipment, etc., also have the characteristics of long service life, and the depreciation life should be relatively long. Therefore, this article stipulates that the minimum depreciation period of such fixed assets is 10 year, including trains, including all kinds of locomotives, buses, trucks and supporting facilities on vehicles that are not valued separately; Ships, including all kinds of motor ships and supporting facilities on board that are not separately calculated; Machines, machinery and other production equipment, including all kinds of machines, machinery, units, production lines and their supporting equipment, all kinds of power, transmission and conduction equipment, etc. (three) appliances, tools, furniture, etc. related to production and business activities, the minimum depreciation period is 5 years. This kind of fixed assets, except machinery, machinery and other production equipment, are related to production and business activities, that is, they are not direct production tools, but appliances, tools, furniture, etc., which play an auxiliary role in the production and business operation process. Their service life is relatively short, and their minimum depreciation period is 5 years. (4) For means of transport other than airplanes, trains and ships, the minimum depreciation period is 4 years. Other means of transport other than airplanes, trains and ships have relatively low value and short service life, so the depreciation period should be correspondingly shorter. Therefore, this article stipulates that the minimum depreciation period of such fixed assets is 4 years. Such fixed assets include automobiles, trams, tractors, motorcycles (boats), motor boats, sailboats and other means of transport. (5) For electronic equipment, the minimum depreciation period is 3 years. According to the detailed rules for the implementation of the former foreign-funded tax law, the minimum depreciation period of electronic equipment is five years. Considering various practical factors such as the rapid development of science and technology, the rapid upgrading of technology and the relatively short service life of electronic equipment, this article changes the minimum depreciation period of electronic equipment from five years to three years, so as to advance the depreciation deduction of enterprises. The electronic equipment mentioned in this article refers to the equipment which is composed of integrated circuits, transistors, electron tubes and other electronic components, and uses electronic technology (including software) to play a role, including electronic computers, robots controlled by electronic computers, numerical control or program control systems, etc. (six) the autonomy of the enterprise in determining the depreciation period. The depreciation period specified above is only the minimum depreciation period of various fixed assets, and it is only a basic requirement. It does not exclude that the enterprise itself stipulates that the depreciation period for assets is longer than the minimum depreciation period. In other words, an enterprise may, according to the nature and usage of fixed assets, accrue depreciation within a longer time limit than the minimum depreciation period of related assets stipulated in this article. (seven) the power of the competent departments of finance and taxation of the State Council to stipulate the depreciation period. The competent departments of finance and taxation of the State Council may make provisions on the minimum depreciation period different from those stipulated in this article. Because considering that the reality is very complicated, the attributes and usage of various fixed assets will also change. If the financial and tax authorities in the State Council are not authorized to make timely adjustments according to the needs of the actual situation, it will easily become rigid and mechanical, and it will be difficult to meet the needs of practice. Therefore, according to the authorization of this article, the financial and tax authorities in the State Council can make provisions on the minimum depreciation period of various assets different from those determined in principle in this article without amending the regulations. [1] fixed assets depreciation calculation table [2] How to choose the best plan for depreciation of fixed assets [2] Article 32 of the new Enterprise Income Tax Law stipulates that if the fixed assets of an enterprise really need to be accelerated due to technological progress and other reasons, the depreciation period can be shortened or accelerated depreciation can be adopted. Article 98 of the Regulations for the Implementation of the Enterprise Income Tax Law stipulates that the fixed assets mentioned in Article 32 of the Enterprise Income Tax Law that can adopt the method of shortening the depreciation period or adopting the accelerated depreciation method include the following aspects: (1) Fixed assets whose products are rapidly updated due to technological progress; (2) Fixed assets in a state of strong vibration and high corrosion all the year round. If the depreciation period is shortened, the minimum depreciation period shall not be less than 60% of the depreciation period stipulated in Article 60 of these regulations; If the accelerated depreciation method is adopted, the double declining balance method or the sum of years method can be adopted. Article 60 of the Regulations for the Implementation of the Enterprise Income Tax Law stipulates that, unless otherwise stipulated by the competent departments of finance and taxation of the State Council, the minimum period for calculating depreciation of fixed assets is as follows: (1) 20 years for houses and buildings; (2) Aircraft, trains, ships, machines, machinery and other production equipment, which is 10 year; (three) appliances, tools, furniture, etc. related to production and business activities, for 5 years; (4) 4 years for means of transport other than airplanes, trains and ships; (five) electronic equipment, for 3 years. According to the tax regulations, try to analyze the following examples: Hongda Company, which makes profits year by year, does not enjoy the preferential policies of enterprise income tax, and the enterprise income tax rate is 25%. In 2008, it is planned to purchase a fixed asset whose products are updated quickly due to technological progress. The original value of the fixed asset is 5 million yuan, the estimated net salvage value is 200,000 yuan, and the estimated service life is 5 years, which is the same as the minimum depreciation period stipulated in the tax law. According to the tax law, the fixed assets can enjoy preferential tax policies in terms of depreciation. Assuming that the annual compound interest rate is 10%, the present value coefficients of the first 1 year to the fifth year are: 0.909, 0.826, 0.75 1, 0.683, 0.62 1. Without considering the preferential tax policies, enterprises accrue depreciation according to the usual depreciation method, and accrue depreciation according to the life average method, that is, the accrued depreciation amount of fixed assets is evenly allocated to the expected service life of fixed assets. The depreciation period of fixed assets is 5 years, the annual depreciation amount is (500-20) ÷ 5 = 960,000 yuan, and the total accumulated depreciation present value is 96× 0.909+96× 0.826+96× 0.751+96× 0.683+96× 0.62/kloc. Option 2: adopt the method of shortening depreciation period. If the enterprise chooses the minimum depreciation period as 60% of the expected service life of fixed assets, the minimum depreciation period of the fixed assets is 5×60%=3 years. According to the analysis of the life average method, the annual depreciation amount is (500-20) ÷ 3 =1600,000 yuan, and the total accumulated depreciation present value is160× 0.909+. Option 3: Double declining balance method is adopted. That is, without considering the estimated net salvage value of fixed assets, the depreciation of fixed assets is calculated according to the original price of fixed assets minus accumulated depreciation at the beginning of each period and the double straight-line depreciation rate. The first 1 year depreciation is 500× 2 ÷ 5 = 2 million yuan, the second year depreciation is (500-200 )× 2 ÷ 5 =1200,000 yuan, and the third year depreciation is (500-200-/kloc-0. The total present value of accumulated depreciation is 200× 0.909+120× 0.826+72× 0.751+44× 0.683+44× 0.621= 3,923,680 yuan, which is deductible before tax. Option 4: Take the sum of years method. That is, the balance after deducting the estimated net salvage value from the original price of fixed assets is multiplied by a decreasing fraction with the numerator of the useful life of fixed assets and the denominator of the sum of the estimated useful life year by year to calculate the annual depreciation amount. The first 1 year depreciation amount is (500-20) × 5 ÷15 =1600,000 yuan, and the second year depreciation amount is (500-20) × 4 ÷15 =/kloc- The depreciation in the fourth year is (500-20) × 2 ÷15 = 640,000 yuan, and the depreciation in the fifth year is (500-20) ×1÷15 = 320,000 yuan. The total present value of accumulated depreciation is160× 0.909+128× 0.826+96× 0.751+64× 0.683+32× 0.621= 3,868,480 yuan, because Comparing and analyzing the above four schemes, adopting the method of shortening the depreciation period or accelerating the depreciation, the depreciation accrued in the early stage of the expected service life of fixed assets is more, and due to the time value effect of money, the tax deduction benefit is more obvious than adopting the usual depreciation method. Among the above four schemes, the first scheme adopts the usual depreciation method to offset the tax least, and the second scheme adopts the method of shortening the depreciation period to offset the tax most, and the method of shortening the depreciation period is 99.44-90.96 = 84,800 yuan more than the normal depreciation method; Scheme 3 is followed by the double declining balance method, and the double declining balance method is 98.092-90.96 = 7.1320,000 yuan more than the normal depreciation method; Taking the sum method of four years of the scheme, the tax deduction is 96.712-90.96 = 57,520 yuan more than the normal depreciation method. In the above example, if the minimum depreciation period selected by the method of shortening the depreciation period is 80% of the expected service life of fixed assets, that is, the depreciation period is calculated as 5×80%=4 years, then the accumulated present value of depreciation totals 3,802,800 yuan, and the corresponding tax deduction is 3,802.8× 25% = 950,700 yuan, which is 95.07-90.90 more than the usual depreciation method. According to the analysis of the above example, if the estimated net residual value of the fixed assets is 50,000 yuan and the expected service life is 5 years, the normal depreciation method will be adopted to offset the tax of 3.04.1280,000 yuan, the depreciation period will be shortened to offset the tax of 3.59205 million yuan, and the double declining balance method will be adopted to offset the tax of 3.39.1. In practical work, the depreciation period of fixed assets set by enterprises is not necessarily the same as the minimum depreciation period stipulated in the tax law. In this regard, enterprises should analyze the specific situation, adjust the depreciation accrued in accounting and the tax law, and choose a reasonable and effective depreciation method accordingly. In short, during the period when the enterprise does not enjoy the preferential enterprise income tax, if the purchased fixed assets meet the requirements of the tax law, it can adopt the conditions of shortening the depreciation period or adopting accelerated depreciation methods, and should make reasonable comparative planning according to law and choose an effective method to fully enjoy the preferential tax policies.
[Edit this paragraph] Accounting entries for depreciation of fixed assets
1, composition of acquired value (all reasonable and necessary expenses incurred before reaching the intended usable state) = price (including value-added tax)+transportation and miscellaneous expenses+packaging expenses+installation costs+taxes+(capitalized) loan interest+converted price difference of foreign currency loans+shared wages of engineers+professional service fees+other indirect expenses (deed tax, vehicle purchase tax, farmland occupation tax). Borrowing that does not need to be installed for outsourcing: fixed assets [3] loans: bank deposits B. Borrowing that needs to be installed for outsourcing (1) loans: loans for construction in progress: bank deposits (paid purchase price, Transportation and miscellaneous fees, etc.) (2) Borrowing: loans for construction in progress: bank deposits (installation fees paid, etc.) (3) Borrowing: loans for fixed assets: loans for construction in progress ......................................................................................................... ) Purchase of engineering materials: engineering materials (including value-added tax) loan: bank deposit (2) Receiving engineering materials loan: Engineering materials loan: Engineering materials (3) Receiving finished products loan of the enterprise: Engineering loans under construction: inventory goods …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… Taxes payable-VAT payable (transfer-out of input tax) (5) Transfer of engineering materials to enterprise inventory: Taxes payable on raw materials-VAT payable (input tax) Loan: Engineering materials (6) Expenses incurred in joint commissioning Borrow: prepaid expenses ............................................................................................... Payable salary for value-added tax (input tax) .................................................................................................................................................................. (10) Confirm the new investment cost by referring to the estimated net recoverable amount ① and the maturity of renovation and expansion+(original cost-accumulated depreciation) ②: non-operating expenses of fixed assets ② > ① Time loan: construction in progress C. Investor input (value confirmed by all investors) Borrowing: fixed assets loan: paid-in capital (share capital) D. Debt restructuring (1 ) Premium Loan Received: Bank Deposit .................................................... Premium Loan Received: Accounts Receivable (2) Premium Loan Paid: Fixed Asset Loan: Accounts Receivable Bank Deposit ................................................................................ Book price+premium/fair price of (exchanged assets) * Taxes payable and additional borrowing for education expenses: bank deposit fixed assets loan: tax payable for raw materials-value-added tax payable (input tax transferred out) non-operating income-non-monetary transaction income (2) payment of premium loan: fixed assets loan: tax payable for raw materials-value-added tax payable (input tax transferred out) bank deposit e, accepting donations (1 ) Borrow: fixed assets loan: value of assets to be transferred-accepting donated non-monetary assets (2) Borrow: value of assets to be transferred: payable taxes-payable consumption tax capital reserve-accepting non-cash assets reserve F. Transfer in without compensation (according to book value of transfer-out unit+relevant taxes) Borrow: fixed assets loan: bank deposit of capital reserve g, Inventory surplus is recorded through "loss and overflow of pending property": 1) market price-estimated loss according to the old and new degree 2) estimated future cash flow (1 in case of unavailability) (1) Borrow: fixed asset loan: loss and overflow of pending property (2) Borrow: loss and overflow loan of pending property: non-operating income H. Kloc-0/) Loan for payment or supplementary payment: construction in progress -x project loan: bank deposit (2) Loan for completion and delivery: fixed assets loan: construction in progress I, lease-in (omitted) J, financial lease (1 ) Borrowing: fixed assets-finance lease into fixed assets ................................................................................................................................................................ Transfer of property rights of assets to enterprises: fixed assets-fixed assets loans for production and operation: fixed assets-financial leasing into fixed assets. The financial leasing expenses are temporarily omitted. 2. Depreciation of fixed assets: manufacturing expenses (management expenses, etc.) Loans: accumulated depreciation A, life average method (omitted) B, workload generation (omitted) C, double declining balance method first year = fixed assets value * 2/ Second year of service life = (value of fixed assets-depreciated) *2/ penultimate year of service life and so on = (value of fixed assets-depreciated-net salvage value)/2 = last year d, total number of years (i.e. denominator) = n+(n-1)+(n-2)+ Second year = n-1…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… Last year = 1 Example: (1) Useful life is 8 years denominator = 8+7+6+5+4+3+2+1= 36 First year ratio = 8/36 (2) Useful life is 5 years denominator = 5+4+. Kloc-0/5 3. Note on subsequent expenditures: (1) Automobile repair loan: management fee loan: bank deposit (2) Fixed assets are renovated into fixed assets-fixed assets decoration (depreciation is completed between two renovations, but not finished, All of them are credited to non-operating expenses at one time) 4. The first step of disposal: borrowing: accumulated depreciation of fixed assets. Fixed assets impairment reserve loans: fixed assets bank deposits (taxes payable, etc.) ................................................................................................................ Donation and loan: non-operating expenses-donation and loan: fixed assets clearing C, debt restructuring loan: accounts payable loan: fixed assets clearing D, non-monetary transaction lending: raw materials payable tax loan: fixed assets handling C and D refer to the previous example. Both parties may be involved in "non-operating income -xx income (or expenditure -xx loss)" E. Free transfer: capital reserve-free transfer of fixed assets loan: fixed assets clearing F. Loss loan: non-operating expenditure loan: fixed assets clearing G, selling and scrapping (1) loan: fixed assets clearing accumulated depreciation reserve loan: fixed assets bank deposit {