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Ebner Stolz Asia

Taxes and tax advisory

New CIT regulations on fixed assets depreciation

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By Lena May 17, 2018

Caishui [2018] No. 54

The Ministry of Finance and SAT jointly issued a regulation on 7 May stipulating that equipment and tools that are purchased during the period 2008-2020 could be recognized one-off as cost of sales in the current period and fully deductible for CIT purpose on the condition that the unit price is below 5 million CNY. No depreciation is required. For equipment and tools over 5 million CNY, depreciation shall still be done with reference to related tax regulations.

Equipment and tools refer to the fixed assets other than buildings and construction structure.

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