First, the interest income of small loans for farmers in financial institutions is exempt from business tax.
Second, when calculating the taxable income, the interest income of small loans of farmers in financial institutions is included in the total income by 90%.
Third, the financial insurance income of rural credit cooperatives, rural banks, rural mutual funds cooperatives, loan companies, rural cooperative banks and rural commercial banks wholly sponsored by banking institutions at or below the county level (including county-level cities, districts and banners) will be subject to a business tax at a reduced rate of 3%.
Fourth, when calculating taxable income, the premium income obtained by insurance companies providing insurance services for planting and aquaculture is calculated by subtracting 90%.
Document Caishui [2065438+00] No.4 stipulates that financial institutions shall separately account for the interest income of eligible farmers' small loans. If it cannot be accounted for separately, the preferential policies stipulated in Articles 1 and 2 of this Notice shall not apply. Rural credit cooperatives that apply the preferential policies of temporarily exempting or halving enterprise income tax before the end of 2009 will still implement the preferential policies of enterprise income tax stipulated in Article 2 of this Notice after the expiration of the existing policies. Financial institutions that apply the preferential business tax policies stipulated in Articles 1 and 3 of this Notice shall have their business tax exempted or reduced from June 5438+1 October1date to the date of promulgation, and shall be deducted or refunded from the business tax payable in the future.
At the same time, since June 5438, 2009, the provisions of Article 2 of the Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on Tax Policies of Rural Credit Cooperatives in Pilot Areas (Caishui [2004] No.35) and Article 2 of the Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on Further Expanding Tax Policies of Rural Credit Cooperatives in Pilot Areas (Caishui [2004] 177) have been implemented.