How many years is the depreciation period of office furniture?

The depreciation period of office furniture is generally 5 years.

According to Article 60 of the Regulations for the Implementation of the Enterprise Income Tax Law of People's Republic of China (PRC), 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:

(a) houses and buildings, for 20 years;

(2) Aircraft, trains, ships, machines, machinery and other production equipment, 10 year;

(3) Appliances, tools and furniture. 5 years related to production and business activities;

(4) Other than airplanes, trains and ships.

Depreciation of fixed assets refers to the value of fixed assets gradually lost in the process of use and transferred to commodities or expenses, and it is also the consumption of fixed assets shared by enterprises during their service life due to the use of fixed assets in the process of production and operation. Determining the depreciation range of fixed assets is the premise of depreciation accrual.

One of the main characteristics of fixed assets is that they can play a role in several production cycles and keep their original physical form, while their value is gradually transferred to the products produced with the wear and tear of fixed assets. The value of fixed assets transferred to products is the depreciation of fixed assets.

References:

Regulations of People's Republic of China (PRC) Municipality on the Implementation of Enterprise Income Tax Law