(1) deposit interest.
(2) The insurance money obtained by the insured.
Two. Exempt from vat
(a) the following interest income
Before1.20161231,farmers in financial institutions made small loans.
Microfinance refers to a loan whose total balance of a single loan is less than 654.38+10,000 yuan (inclusive).
The term "farmers" as mentioned in these Measures refers to those who have lived in the administrative area of the town (excluding Chengguan Town) for a long time, including those who have lived in the administrative villages under the jurisdiction of Chengguan Town for a long time and those whose household registration is not local but have lived in the local area for more than 1 year, state-owned farm workers and rural individual industrial and commercial households. State-owned economic organs, organizations, schools and villages located in the administrative area of the town (excluding Chengguan Town) and the administrative villages under the jurisdiction of Chengguan Town. Local registered households who go out with their families 1 year or more, regardless of whether the contracted cultivated land is retained or not, do not belong to farmers. Farmers can engage in agricultural production and operation or non-agricultural production and operation with households as statistical units. The judgment of farmers' loans should be based on whether the borrower belongs to farmers at the time of loan issuance.
2. National student loans.
3. National debt and local government bonds.
4. Loans from the People's Bank of China to financial institutions.
5. The housing provident fund management center issues individual housing loans with housing provident fund at the designated entrusted bank.
6. Foreign exchange loans granted by financial institutions entrusted by foreign exchange management departments in the process of operating the national foreign exchange reserves.
7. In the unified borrowing and unified repayment business, the interest charged by the enterprise group or the core enterprises in the enterprise group and the financial companies affiliated to the group to the enterprise group or the subordinate units within the group according to the loan interest rate paid to financial institutions or the coupon rate level of bonds paid.
If the interest charged by the borrower to the fund user is higher than the loan interest rate paid to the financial institution or the coupon rate level of the bonds paid, the borrower shall pay the value-added tax in full.
Unified borrowing and unified return business refers to:
(1) After an enterprise group or a core enterprise in an enterprise group obtains funds by borrowing from financial institutions or issuing bonds to the outside world, it distributes the borrowed funds to subordinate units (including independent accounting units and non-independent accounting units, the same below), and collects the repayment of the principal and interest of financial institutions or bond buyers from subordinate units.
(2) After the enterprise group borrows money from financial institutions or issues bonds to foreign countries to obtain funds, the financial company to which the group belongs signs a unified loan contract with the enterprise group or its subordinate units and allocates funds, and after collecting the principal and interest from the enterprise group or its subordinate units, it is transferred to the enterprise group, and the enterprise group uniformly returns the business of the financial institution or the bond purchaser.
(2) Interest income from financial interbank transactions.
1. Capital transactions between financial institutions and the People's Bank of China, including loans from the People's Bank of China to general financial institutions and rediscounts from the People's Bank of China to commercial banks.
2. Inter-bank transactions. Capital accounting transactions between different banks and offices in the same banking system.
3. The fund exchange between financial institutions refers to the short-term (including one year) unsecured fund financing between financial institutions that enter the national interbank lending market through the national unified interbank lending network with the approval of the People's Bank of China.
4. Cash transfer business between financial institutions.
(3) The interest income obtained by the housing provident fund management center from issuing housing provident fund personal housing loans at the designated entrusted bank shall be exempted from value-added tax.
(4) Interest income from foreign exchange loans issued by financial institutions entrusted by foreign exchange management agencies in the process of operating the national foreign exchange reserves shall be exempted from value-added tax.
(5) The interest income obtained by the People's Bank of China from loans to financial institutions shall be exempted from VAT.
(6) The cancelled financial institution pays off debts with goods, real estate, intangible assets, securities, bills and other properties.
Revoked financial institutions refer to financial institutions and their branches in various places decided by the People's Bank of China and China Banking Regulatory Commission according to law, including commercial banks, trust and investment companies, finance companies, financial leasing companies, urban credit cooperatives and rural credit cooperatives that have been revoked according to law. Unless otherwise stipulated, the affiliated enterprises of the revoked financial institutions do not enjoy the VAT exemption policy of the revoked financial institutions.
(seven) the premium income of life insurance products of insurance companies for more than one year.
Life insurance for more than one year refers to life insurance, pension insurance and health insurance with an insurance period of more than one year.
Life insurance refers to life insurance with life expectancy as the subject matter of insurance.
Old-age insurance refers to the life insurance with the purpose of old-age security, with the survival of the insured as the condition of paying the insurance money, and paying the survival insurance money in stages according to the agreed time interval. Endowment insurance shall meet the following conditions at the same time:
1. The insurance contract stipulates that the payment age of the insured's survival insurance money shall not be lower than the retirement age stipulated by the state.
2. The time interval between two adjacent payments shall not exceed one year.
Health insurance refers to personal insurance that pays insurance benefits on the condition of suffering losses due to health.
The above-mentioned tax exemption policy is subject to filing management, and the specific filing management measures shall be implemented in accordance with the Announcement of State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC) on Relevant Management Issues after Cancellation of Business Tax Exemption for Returned Life Insurance Products for More than One Year (State Taxation Administration of The People's Republic of China Announcement No.65, 20 15).
(8) Income from the transfer of the following financial commodities.
1. Qualified Foreign Investors (QFII) entrust domestic companies to engage in securities trading in China.
2. Hong Kong market investors (including units and individuals) buy and sell A shares listed on the Shanghai Stock Exchange through Shanghai-Hong Kong Stock Connect.
3. Mutual recognition of Hong Kong market investors (including units and individuals) buying and selling mainland fund shares through funds.
4. Managers of securities investment funds (closed-end securities investment funds and open-end securities investment funds) use the funds to buy and sell stocks and bonds.
5 individuals engaged in financial commodity transfer business.
(9) The income (excluding credit rating, consulting and training income) obtained by a guarantee institution that meets the following conditions from engaging in credit guarantee or re-guarantee business of small and medium-sized enterprises shall be exempted from value-added tax within 3 years:
1. obtained the business license of financing guarantee institution issued by the regulatory authorities, registered as an enterprise (enterprise) legal person according to law, and paid-in capital exceeded RMB 20 million.
2. The annual average guaranteed interest rate shall not exceed 50% of the benchmark interest rate of bank loans in the same period. Average annual guarantee rate = current guarantee fee income/(initial guarantee balance+current increased guarantee amount) × 100%.
3. It has been operating in compliance for more than 2 years, and the funds are mainly used for guarantee business. It has a sound internal management system and the ability to provide guarantees for small and medium-sized enterprises, outstanding business performance, and a sound mechanism for pre-evaluation, in-process monitoring, post-event recovery and disposal of insured projects.
4. The accumulated secured loans of small and medium-sized enterprises for two years account for more than 80% of their total secured business, and the accumulated secured loans with a single amount of less than 8 million yuan account for more than 50% of their total secured business.
5. The guarantee balance provided to a single insured enterprise shall not exceed 65,438+00% of the total paid-in capital of the guarantee institution, and the average single guarantee liability shall not exceed 30 million yuan.
6. The balance of guarantee liability shall not be less than 3 times of its net assets, and the payout ratio shall not exceed 2%.
Guarantee institutions shall be exempted from value-added tax and put on record management. Eligible guarantee institutions should go through the prescribed filing procedures at the local county (city) competent tax authorities and the SME management departments at the same level, and enjoy the VAT exemption policy for three years from the date of completing the filing procedures. After the expiration of the three-year tax exemption period, eligible guarantee institutions can continue to enjoy this policy after going through the filing formalities according to the prescribed procedures.
The specific filing management measures shall be implemented in accordance with the Announcement of State Taxation Administration of The People's Republic of China on Relevant Management Issues after the Cancellation of the Examination and Approval Items of Exemption from Business Tax for SME Credit Guarantee Institutions (State Taxation Administration of The People's Republic of China Announcement No.69, No.2015), in which the filing management department of the tax authorities is uniformly adjusted to the county (city) level State Taxation Bureau.
Three. VAT will be refunded at the time of collection.
General taxpayers who are approved by the People's Bank of China, the China Banking Regulatory Commission or the Ministry of Commerce to engage in financial leasing business provide tangible movable property financial leasing services and tangible movable property financial sale and leaseback services. For the part where the actual tax burden of value-added tax exceeds 3%, the value-added tax will be refunded immediately. Authorized by the Ministry of Commerce and approved by the State Economic and Technological Development Zone, if the paid-in capital of general taxpayers engaged in financial leasing business and financing sale and leaseback business reaches 654.38 billion yuan after May 2065.438+06, it shall be implemented according to the above provisions from the month when it reaches the standard; If the paid-in capital does not reach 654.38+700 million yuan after May of 20 16, but the registered capital reaches1700 million yuan, it can still be implemented in accordance with the above provisions before July of 3 16 and after August of 16.
The actual tax burden of value-added tax as mentioned in these Provisions refers to the proportion of the value-added tax actually paid by taxpayers in providing taxable services in the current period to the total amount of extra-price expenses obtained by taxpayers in providing taxable services in the current period.
Four, cross-border financial services are exempt from value-added tax.
(1) Direct charge financial services provided for monetary financing and other financial services between overseas units have nothing to do with domestic goods, intangible assets and real estate.
Insurance services provided by domestic units and individuals for export goods, including export goods insurance and export credit insurance.