Value-added tax is not levied on deposit interest, and deposit interest and insurance claims are items that are not subject to value-added tax. Deposit interest refers to the deposit interest paid by financial institutions that absorb public deposits with the approval of the State Council Banking Regulatory Authority in accordance with the provisions of People's Republic of China (PRC) Commercial Bank Law.

In some cases, VAT is not required:

According to the provisions of the tax authorities, there is no need to pay value-added tax, mainly including:

1, and government funds or administrative fees charged by qualified administrative units at the same time;

2. Deposit interest;

3. Insurance compensation obtained by the insured;

4, the real estate department or its designated institutions, provident fund management center, development enterprises and property management units to collect residential special maintenance funds;

5. In the process of asset reorganization, all or part of physical assets and their associated creditor's rights, liabilities and labor force are transferred to other units and individuals through merger, division, sale and replacement, which involves the transfer of real estate and land use rights.

I hope the above content can help you. Please consult a professional lawyer if you have any other questions.

Legal basis: Article 2 of the Provisional Regulations of People's Republic of China (PRC) on Value-added Tax:

(1) Unless otherwise specified in items 2, 4 and 5 of this article, the tax rate of taxpayers selling goods, services, tangible movable property leasing services or imported goods is 17%.

(2) Taxpayers sell transportation, postal services, basic telecommunications, construction and real estate leasing services, sell real estate, transfer land use rights, and sell or import the following goods at the tax rate of 1 1%: