Notice of the Ministry of Finance and the State Administration of Taxation Concerning the Issue of Deductions before Levying of Income Tax Due to Payment of Insurance and Security Fund by Insurance Companies
Notice of the Ministry of Finance and the State Administration of Taxation Concerning the Issue of Deductions before Levying of Income Tax Due to Payment of Insurance and Security Fund by Insurance Companies
Notice of the Ministry of Finance and the State Administration of Taxation Concerning the Issue of Deductions before Levying of Income Tax Due to Payment of Insurance and Security Fund by Insurance Companies
Cai Shui [2005] No.136
September 17, 2005
The public finance departments (bureaus), bureaus of state taxes and those of local taxes of all provinces, autonomous regions, municipalities directly under the Central Government, and municipalities under separate state planning, the Financial Bureau of Xinjiang Production and Construction Army Corps:
In order to effectively prevent and eliminate financial risks, maintain financial stability, and guarantee the benefits of policy holders, we hereby clarify the issue regarding deductions before levying of enterprise income tax due to payment of insurance and security fund by insurance companies in accordance with the "Administrative Measures for the Insurance Protection Fund" as follows:
Article 1 The insurance and security fund paid by insurance companies in accordance with the following provisions shall be subject to pre-tax deductions on the basis of the actual business:
1.For the property insurance, accidental injury insurance or short-term health insurance, the deduction shall not exceed 1% of the self-retaining premiums;
2.
......