The policy of deducting enterprise income tax from equipment and appliances has been extended to December 31, 2023
Sending agency: Ministry of Finance, State Administration of Taxation Delivery time: 2021-04-13
The Notice of the Ministry of Finance and the State Administration of Taxation on Policies Related to Enterprise Income Tax Deduction of Equipment and Instruments (Caishui [2018] No. 54) stipulates that for equipment and instruments newly purchased by enterprises between January 1, 2018 and December 31, 2020, with a unit value not exceeding 5 million yuan, they are allowed to be deducted as a one-time cost expense in the calculation of taxable income, and depreciation will not be calculated annually. According to the Announcement of the Ministry of Finance and the State Administration of Taxation on Extending the Implementation Period of Partial Tax Preferential Policies (Announcement No. 6 of 2021 of the Ministry of Finance and the State Administration of Taxation), the implementation period of the above policies has been extended until December 31, 2023.
