Selected International Depreciation Rates by Asset and Country (CRS Report for Congress)
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| Release Date |
Revised April 30, 2007 |
| Report Number |
RL33854 |
| Report Type |
Report |
| Authors |
Brent W. Mast, Knowledge Services Group |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The depreciation provisions in the U.S. tax system are of recurring interest toCongress. More than 50 bills have been introduced in the 110th Congress that addresssome aspect of depreciation. Concerns about the U.S. depreciation system tend tobegin with the criticism that updates to the system have not kept pace with thetechnological advancements of the assets for which it is utilized to account.Proponents of updating the depreciation system point to a number of problems,including inefficient investment incentives, high administrative costs, increaseddisputes based on difficulties in compliance, and, in the macroeconomy, impairedcompetitiveness and economic growth. Legislation making significant changes to theU.S. depreciation system is being considered by the 110th Congress. The TaxDepreciation, Modernization and Simplification Act was introduced in the 109thCongress (S. 2100), and was reintroduced in the 110th Congress (S. 1197) on April24, 2007. New perspectives on the policy options for the U.S. depreciation systemmay be gained through examining the systems used by other countries. This reportprovides information on the depreciation systems of selected European Unioncountries (France, Germany, Ireland, Spain, and the United Kingdom) by presentingdepreciation rates for buildings; computers; expensable assets; motor vehicles;patents; plant, equipment, machinery, and tools; and software.
