Tax deduction standard for insurance industry

Legal analysis: 1. Income tax: the insurance company needs to adjust and calculate according to its current profit income and the relevant provisions of China's tax law. 2. VAT: At present, the VAT rate of insurance companies is 6%. 3. Urban maintenance and construction tax and education surcharge: (1) Urban maintenance and construction tax: if the taxpayer is located in the urban area, the tax rate is 7%. If the taxpayer is located in a town, the tax rate is 5%. If the taxpayer's area does not belong to urban areas, towns, etc. , the tax rate is 1%. (2) Education surcharge: based on the amount of value-added tax and consumption tax actually paid by taxpayers, the tax rate is 3%.

Legal basis: Regulations on the Implementation of Enterprise Income Tax Law of People's Republic of China (PRC).

Article 35 The basic social insurance premium and housing accumulation fund paid by an enterprise for its employees in accordance with the scope and standards stipulated by the relevant competent department of the State Council or the provincial people's government are allowed to be deducted. Supplementary endowment insurance premiums and supplementary medical insurance premiums paid by enterprises for investors or employees are allowed to be deducted within the scope and standards stipulated by the competent departments of finance and taxation of the State Council.

Article 36 Except for the personal safety insurance premiums paid by enterprises for special types of workers in accordance with the relevant provisions of the state and other commercial insurance premiums that can be deducted according to the provisions of the competent departments of finance and taxation of the State Council, the commercial insurance premiums paid by enterprises for investors or workers shall not be deducted.