Here are the proposed changes in business taxes that Congress is expected to vote on this week:

DEPRECIATION: Repeals accelerated depreciation on new investments scheduled to go into effect in 1985 and 1986. This will raise $1.5 billion in 1985, increasing to $9.9 billion in 1986 and $18.4 billion in 1987.

The value of the investment tax credit would be reduced. For example, companies eligible for a 10 percent investment credit under current law would have to either (1) reduce depreciation from 100 percent of the cost of the asset to 95 percent, or (2) reduce the value of the credit to 8 percent. In addition, companies would be allowed to use investment tax credits to eliminate up to 85 percent of tax liabilities instead of the current maximum of 90 percent.

CORPORATE TAX LEASING: Safe-harbor leasing -- the sale of corporate tax credits and depreciation -- would be repealed effective Jan. 1, 1984. Rules governing traditional leasing would be liberalized.

CORPORATE TAX PREFERENCES: Six corporate tax preferences would be cut by 15 percent, including those resulting from Domestic International Sales Corporations, coal and iron depletion, bad debt reserves in excess of past needs, and interest on financing the debt to buy tax-exempt obligations. Breaks for mineral exploration and development and intangible drilling costs would be reduced.

MERGERS AND ACQUISITIONS: Some of the tax incentives resulting from mergers and acquisitions would be reduced or eliminated. These changes would reduce tax avoidance tactics using stock redemptions and partial liquidations.

CONSTRUCTION: Corporations would have to amortize interest and taxes on nonresidential construction over 10 years, instead of taking immediate deductions.

Tax deferrals currently available to multiyear contractors, particularly those in the defense and aerospace industries, would be cut back severely.

LIFE INSURANCE: The use of subsidiaries and other related corporations by life insurance companies to shelter income from certain high tax rates would be eliminated.

PUERTO RICO AND OTHER U.S. POSSESSIONS: Special credits for corporations setting up subsidiaries in U.S. possessions would be cut back. The restrictions primarily will hurt drug and high-technology companies.

WITHHOLDING: Effective July 1, 1983, banks, savings and loans and corporations will be required to withhold 10 percent of interest and dividend payments for the Internal Revenue Service. The first $150 of interest income will be exempt, as will all interest income for poor people and most of the elderly. A provision reducing the capital gains holding period from one year to six months was eliminated.

CORPORATE PENSION PLANS: The tax-deferral benefits of corporate pension plans are reduced significantly. Under current law, a major beneficiary of a corporate plan could defer tax on up to $157,000 of income annually. This would be reduced to below $100,000. The maximum contribution to a Keogh (or H.R. 10) plan would be incresed from $15,000 a year to $30,000, however.

OIL: Companies using Alaskan oil would lose a break from the Windfall Profits Tax. In addition, excess foreign tax credits from oil and gas produced outside the United States could not be used to reduce taxes on other foreign income.

BUSINESS MEALS: The conferees killed a proposal to halve the deduction for business meals. In its place, there would be a requirement that restaurant and hotel owners report to the IRS an estimate of employes' tip income. For waiters and waitresses, the estimate would be 8 percent of the cost of the meals served.

JOBS CREDIT: The Targeted Jobs Credit for hiring the hard-core unemployed would be extended for two years, through the end of 1984.

BONDS: Tax-exempt revenue bonds would be restricted in a variety of complex ways. Bonds used to finance much private development would have fewer tax advantages, including the loss of accelerated depreciation. Small-issue bonds for industrial development -- less than $1 million -- would be prohibited after 1985.

Original-issue discount bonds and stripped-coupon bonds would lose tax advantages now available to companies issuing them.