According to Article 2 of the Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Relevant Issues Concerning Tax Collection and Management of Individual Insurance Agents (Announcement No.45 of State Taxation Administration of The People's Republic of China, 20 16), individual insurance agents shall deduct local tax surcharges and exhibition expenses from their relevant income (excluding value-added tax) and pay individual income tax according to regulations. The cost of exhibition industry is 40% of the commission income MINUS the additional balance of local taxes and fees; As well as the provisions of Article 7, other personal income tax issues of individual insurance agents and securities brokers shall be implemented in accordance with the Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Collecting Personal Income Tax on Commission Income of Securities Brokers (Announcement No.45 of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) 20 12).

According to Article 1 of the Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on the Collection of Individual Income Tax on the Commission Income of Securities Brokers (Announcement No.45 of State Taxation Administration of The People's Republic of China No.2012), according to the Individual Income Tax Law of People's Republic of China (PRC) and its implementing regulations, the commission income obtained by securities brokers from securities companies shall be subject to individual income tax according to the item of "income from remuneration for services".

Therefore, insurance agents should pay personal income tax according to the above provisions and "income from labor remuneration".

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.