Among them, the taxes involved in the insurance industry are:
1, business tax. According to the provisions of the tax law, providing insurance services in People's Republic of China (PRC), including insurance provided by overseas insurance institutions with domestic pre-tender estimate, falls within the scope of business tax collection. Since June 65438+ 10/2003, the tax rate is 5% and the tax payment period is one month. The turnover of insurance business includes: (1) For the initial insurance business, the turnover is the total insurance premium charged by the taxpayer to the other party for this insurance business, and the taxable amount of sub-insurance business is withheld and remitted by the initial insurer; (2) savings business. If an insurance company obtains economic benefits by collecting deposits (that is, the interest income of insurance deposits paid by the insured is premium income, and the principal of insurance funds is returned to the insurer after the insurance expires), the turnover of its deposit business is the average balance of taxpayers' deposits during the tax period multiplied by the monthly interest rate of one-year deposits published by the People's Bank of China. The average balance of savings is the sum of the balance at the beginning and the balance at the end of the tax period multiplied by 50%; (3) Financial commodity transfer business. Such as stock transfer, bond transfer, foreign exchange transfer and other financial goods transfer, the turnover is the transfer price difference income; (4) The turnover of financial brokerage business and other financial business (intermediary business) is the total income of fees (commissions), including prepaid fees charged outside the price, increased fees (such as post and telecommunications fees and production fees) collected on behalf of others. , and shall not be deducted; (5) Income actually received in the current period, such as settlement penalty, penalty interest, interest rate increase, etc. , should be incorporated into the turnover of business tax; (6) Income from the sale of real estate and the transfer of intangible assets.
Tax incentives:
(1) The premium income of an insurance company that has carried out the life insurance business of returning type for more than one year shall be exempted from business tax. The refundable life insurance business refers to ordinary life insurance, endowment insurance and health insurance with a guarantee period of more than one year (excluding one year) and the return of principal and interest at maturity; (2) Agricultural and animal husbandry insurance and export credit insurance are exempt from business tax; (3) In order to further implement the provisions of People's Republic of China (PRC) Insurance Law that comprehensive insurance companies must operate independently in life insurance and the spirit of the State Council's Instructions on Insurance Company Reform, comprehensive insurance companies and their subsidiaries will not levy business tax when transferring their real estate to newly established property insurance companies or life insurance companies, because there is no paid sale of real estate and there is no other transaction nature.
2. Income tax. An insurance company shall levy enterprise income tax on its income from sources inside and outside China. The enterprise income tax is subject to the proportional tax rate of 33%. The tax payment period is one year. Total income includes: (1) premium income. Refers to the insurance premium, recovery income and reinsurance income paid or receivable by the insurance company; (2) Interest income. Refers to the interest on the purchase of various bonds and other securities, the interest owed by other units and other interest income; (3) Investment income, including dividend income; (4) Income from buying resale securities; (5) Exchange gains and losses; (6) Other income. Refers to the income from sales of goods and materials, the income from handling insurance business on behalf of other insurance companies, and the income from on-site survey and lease when an insurance accident occurs in the underwriting business of other insurance companies (refers to the rental income from renting fixed assets and other properties); (7) Non-operating income. Refers to all income other than the above income, including sales of real estate, transfer of intangible assets, surplus income of fixed assets, surplus income of materials and cash that cannot be paid to creditors at maturity, additional return of education fees, penalty interest income, donation income, royalty income (income from providing or transferring patents, non-patented technologies, trademarks and other franchise rights) and other income.
Income tax deductible items of insurance companies:
(1) cost. Such as insurance indemnity or payment, reinsurance indemnity expenditure, reinsurance expense expenditure, surrender premium, wages and salaries (since 2000, the maximum deduction of monthly per capita taxable salary is 800 yuan), various liability reserves, insurance guarantee funds, business tax and surcharges, such as value-added tax, business tax, urban maintenance and construction tax, and education surcharge. In addition, there are handling fees, that is, fees paid to insurance agents entrusted by them and handling insurance business on their behalf within the scope of their authorization; And personal life insurance agent's commission. Commission expenses must meet the subordinate conditions: 1 with legal and true vouchers; The payment object must be an independent taxpayer or an individual who has the right to engage in intermediary services (the payment object does not include enterprise employees); 3 commissions paid to individuals shall not exceed 5% of the service amount unless otherwise stipulated.
(2) Operating expenses. Accounting for all expenses incurred in the operation and management of the company except handling fees and commissions. Such as depreciation expense of fixed assets; Travel expenses; Water and electricity charges; The trade union funds, employee welfare funds and employee education funds are deducted respectively according to 2%, 14% and 1.5% of the total taxable wages; Public welfare and relief donations, which do not exceed the standard of 65438+ 0.5% of the taxable income of the enterprise in the current year, can be deducted according to the facts, and the excess will not be deducted; Business entertainment expenses shall be deducted according to the main business income and other business income within a certain standard, and the part exceeding the standard shall not be deducted before tax; Bad debt losses and bad debt reserves; Enterprise property insurance premium; Research and development expenses of new products and technologies; Taxes and fees (property tax, stamp duty, deed tax, land use tax, vehicle and vessel use tax, etc.). ).
(3) Interest expense.
(4) Expenditure on selling repurchased securities.
(5) Interest spread expenditure of the insured.
(6) Other expenses. The expenses incurred in consulting services, agency exploration and insurance business of other insurance companies shall be deducted from the national asset lease fee on average according to the benefit time.
(7) Non-operating expenses. Expenses not directly related to business operation, such as related expenses incurred in transferring intangible assets, university funds, inventory loss of fixed assets, net loss of fixed assets liquidation, debt restructuring loss, donation expenses, fine expenses, extraordinary losses, etc.
Tax incentives:
(1) Income tax paid by domestic enterprises abroad can be deducted; (2) Debt interest income is not included in taxable income. However, national key construction bonds and financial bonds should be taxed according to regulations; (3) Enterprises with foreign investment and institutions and places established by foreign enterprises in China shall be subject to income tax at the rate of 30% on their income in China, and the local income tax rate shall be 3%. The income obtained by a foreign enterprise without an institution or place in China shall be withheld at the tax rate of 10%; (4) Foreign-funded insurance enterprises established in special economic zones and other areas approved by the State Council, with foreign capital exceeding US$ 6.5438+million and operating period exceeding 654.38+00 years, shall enjoy the tax preference of "exemption from one and reduction from two" upon application and approval by the tax authorities; (5) If a foreign investor of a foreign-invested enterprise directly reinvests the profits of the enterprise, increases the registered capital or establishes other foreign-invested enterprises as capital investment for a period of not less than five years, 40% of the income tax paid for the reinvested part shall be refunded upon the application of the investor and the approval of the tax authorities. Foreign investors directly reinvest in China to set up product production enterprises or advanced technology enterprises, and the profits made by foreign investors from enterprises in Hainan Special Economic Zone are directly reinvested in infrastructure construction projects and agricultural development enterprises in Hainan Special Economic Zone. If the operating period is not less than 5 years, the reinvested income tax can be fully refunded upon the application of the investor and the approval of the tax authorities.
3. value-added tax. Insurance companies selling used computers, tables and chairs and other second-hand items and other fixed assets shall be taxed at the rate of 4%, and then the value-added tax shall be halved, and the input tax shall not be deducted; If the sales price of motor vehicles, motorcycles and yachts subject to consumption tax for their own use exceeds the original value, the value-added tax will be levied by half after the tax rate of 4%, and the value-added tax will be exempted if the sales price does not exceed the original value; 6% VAT is levied on materials and supplies sold by insurance companies.
4, urban maintenance and construction tax and education surcharge. Urban construction tax is paid to units and individuals who pay the "three taxes" according to a certain proportion of the "three taxes" (currently there are three grades of 7%, 5% and 1% respectively); The surcharge for education is also levied at 3% of the "three taxes", and the tax payment period is one month. However, at present, the "three taxes" paid by foreign-invested enterprises and foreign state-owned enterprises are not subject to urban construction tax.
5. Land value-added tax. When an insurance company transfers the right to use state-owned land, the above-ground buildings and their attachments, and obtains the balance after deducting the amount specified in the project, land value-added tax will be levied at the progressive tax rates of 30%, 40%, 50% and 60%.
6. Urban land use tax. The fixed tax rate is adopted, and the annual tax payable per square meter of land use tax is calculated on an annual basis and paid in installments according to different regional regulations. Foreign-funded enterprises and foreigners are not levied.
7. Property tax. The tax basis is the taxable value of the property or the rental income of the property, which is divided into ad valorem tax and rental tax accordingly. Ad valorem taxation means that the residual value after deducting 10% ~ 30% from the original value of the property is calculated at 1.2%; From the rent, that is, the rental income of real estate rental is calculated at 12%. Foreign-invested enterprises and foreign-funded enterprises will not pay property tax for the time being.
8. Vehicle and vessel use tax. Insurance companies own and use vehicles and boats in People's Republic of China (PRC) at a fixed tax rate, which is levied annually and paid in installments, excluding foreign-invested enterprises, foreign enterprises and foreigners.
9. Stamp duty. Property insurance companies pay stamp duty when concluding contracts, obtaining property right transfer documents, business account books, rights and licenses. The tax basis is the insurance premium collected, and the tax rate of 1‰ or the fixed tax rate is applicable. Life insurance, annuity insurance and long-term health insurance of life insurance companies are exempt from stamp duty. At the same time, in order to support the development of rural insurance and reduce the development of agricultural and animal husbandry production, agricultural and animal husbandry insurance contracts are exempt from tax.
10, the tax of the insured and the insured. The insurance premiums paid by the insured and the insured to participate in property insurance and transportation insurance are allowed to be deducted, and the insurance claims are exempt from personal income tax.