Newly Purchased Equipment and Instruments can be Deducted at One Time

SAT published that newly purchased equipment and instrument are allowed to be included in the current costs and expenses at one time and deducted in the calculation of taxable income, instead of being depreciated annually from 2018 to 2020. The equipment and instrument refer to fixed assets other than houses and buildings. And the deduction cap is no more than CNY 5 Million.