What is the depreciation period for fixed asset passenger cars?

[LeVincent]

Fixed asset passenger cars have a depreciation period of no less than 4 years. Regulations on fixed asset depreciation periods: The minimum depreciation period for fixed assets: 20 years for houses and buildings; 10 years for aircraft, trains, ships, machinery, mechanical equipment and other production equipment. Definition of car depreciation period and residual value rate: First, based on the taxpayer's fixed assets, accumulated depreciation should begin from the month following the month the asset is put into use; if the fixed asset is to be taken out of use, depreciation should cease from the month following the month it is taken out of use. Before calculating depreciation for fixed assets within the prescribed scope, the residual value should be estimated. Remember this is the portion to be deducted from the original price of the fixed asset, with the residual value ratio not exceeding 5% of the original price. Enterprises must independently determine this regulation. Under special circumstances, adjustments to the residual value ratio should be reported to the competent tax authority for record.