Financial insurance value-added tax, the applicable tax rate is 6%. The applicable tax rate for general taxpayers is 6%; The applicable tax rate for small-scale taxpayers is 3%.

Value-added tax is a turnover tax based on the value-added amount of goods (including taxable services) generated in the circulation process. From the tax principle, value-added tax is a turnover tax levied on the added value of many links such as commodity production, circulation and labor services or the added value of commodities. Extra-price tax is implemented, that is, it is borne by consumers, and tax is levied only if there is value added, and tax is not levied if there is no value added.

Article 15 of the Provisional Regulations on Value-added Tax in People's Republic of China (PRC) stipulates that the following seven items shall be exempted from value-added tax:

1. Self-produced agricultural products sold by agricultural producers;

2. Contraceptive drugs and devices;

3. Old books;

4 imported instruments and equipment directly used for scientific research, scientific experiments and teaching;

5. Imported materials and equipment provided free of charge by foreign governments and international organizations;

6. Disabled persons' organizations directly import articles for the disabled;

7. Goods sold for your own use.

In addition to the provisions of the preceding paragraph, the items of tax exemption and reduction of value-added tax shall be stipulated by the State Council. No region or department may stipulate tax exemption or reduction items.

References:

Baidu Encyclopedia _ VAT