Brazil: Companies Evaluating Taxable Income under Actual Profit Method will be Qualified for Accelerated Depreciation

The Brazilian government has regulated accelerated depreciation with the publication of Decree 7,854, effective from December 4, 2012. For corporate income tax purpose

Sunnyvale, CA (prHWY.com) January 29, 2013 - Accelerated Depreciation is calculated by applying added rate on certain machineries, equipments, apparatuses and instruments both new and obtained between September 16, 2012 and December 31, 2012.

The Decree lists 346 eligible items for accelerated depreciation which include - mechanical chains, straps and belts, tubes, reservoir tanks, containers for compressed or liquefied gas, combustion engines and parts, hydraulic turbines and parts, air compressors.

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