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Meaning of “recovery period” in the English Dictionary

"recovery period" in Business English

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recovery periodnoun [S]

uk   us  
ECONOMICS the ​time during which an ​economyimproves after a difficult ​period: The ​recoveryperiod after any ​majoreconomiccollapse is often accompanied by a ​rise in nationalism.
ACCOUNTING, FINANCE, TAX the ​number of ​yearsallowed for you to get back the ​money that was ​spent on an ​asset by ​paying less ​tax: Taxpayers must wait until the ​year after the end of the ​recoveryperiod to fully ​depreciate the ​property.a 3-year/5-year/10-year, etc. recovery period A similar 15-year ​recoveryperiod is ​allowed for ​improvements to ​restaurantpropertyplaced in ​service after October 22, 2004.the recovery period for sth The ​recoveryperiod for nonresidential ​realestateplaced in ​service after May 12, 1993, has been ​increased to 39 ​years.
(Definition of recovery period from the Cambridge Business English Dictionary © Cambridge University Press)
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“recovery period” in Business English

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