What are the regulations on the depreciation period for passenger cars?

[Paislee]

The depreciation period for passenger cars is 5 years, with a residual value rate of 5%. Below is a detailed introduction regarding the depreciation period of automobiles: 1. Overview: Tax laws stipulate the following on the depreciation period for fixed assets (minimum depreciation period): 20 years for houses and buildings; 10 years for trains, ships, machinery, mechanical equipment, and other production equipment; 5 years for electronic equipment, transportation tools other than trains and ships, as well as appliances, tools, furniture, etc. related to production and operation, with a unified residual value ratio of 5% of the original price. 2. Others: Even for used cars, their depreciation period is also calculated as 5 years from the date of purchase. There are several different methods for depreciating cars, which can be easily confused. These generally include the straight-line depreciation method (straight-line method), accelerated depreciation method (MACRS), and special depreciation method (special depreciation allowance method).