Can the elevator be depreciated at one time?

Of course. According to the current regulations, fixed assets below 5 million can be depreciated at one time. Elevator belongs to the category of mechanical equipment in fixed assets, with a depreciation period of ten years and an annual depreciation rate of 10%. Although one-time depreciation is allowed, it is only allowed at the accounting level. According to the provisions of the tax law, the enterprise income tax will be adjusted and increased according to the actual depreciation extraction period of fixed assets in the final settlement of the next year until the depreciation is extracted according to the specified period.