Notice on clarifying the policy of exempting old-age care institutions from value-added tax
The policy defines the scope of application:
For medical institutions:
From February, 20 19 to February, 2020 1 February, 3 1 2020, medical institutions accepted the entrustment of other medical institutions, and set the medical service guidance price (including the government guidance price and the price determined by the supply and demand sides through consultation in accordance with regulations) by the competent price department at or above the prefecture (city) level in conjunction with the health authorities at the same level and other relevant departments. To provide the services listed in the National Medical Service Price Project Specification, the VAT exemption policy stipulated in Item (7) of Article 1 of the Provisions on the Pilot Transition Policy of Changing Business Tax to VAT (issued by Caishui [2016] No.36) can be applied.
For enterprises in enterprise groups (including enterprise groups):
From Feb. 20 19 1 day to Feb. 3 1 day in 2020, the behavior of free lending of funds between units (including enterprise groups) in an enterprise group is exempted from value-added tax.
For insurance companies:
Insurance companies offering refundable life insurance products for more than one year shall follow the following provisions:
(1) The premium income legally obtained by an insurance company before the insurance regulatory department issues a filing receipt or approval document for the return of life insurance products for more than one year belongs to Article 1 of the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Business Tax Exemption Policy for Return of Life Insurance Products for More than One Year (Cai Shui [2015] No.86) and the Provisions on the Pilot Transition Policy of Changing Business Tax to VAT (Cai Shui [20/KLOC]).
(2) An insurance company that meets the tax exemption conditions stipulated in Articles 1 and 2 of Caishui [2015] No.86 and is not included in the list of business tax exemption issued by the Ministry of Finance and the State Administration of Taxation may go through the filing formalities with the competent tax authorities.
(3) If an insurance company offers a refundable life insurance product for more than one year, after being included in the list of business tax exemption issued by the Ministry of Finance and the State Administration of Taxation or going through the tax exemption filing procedures, the part of the business tax paid before that that has not been deducted or refunded may be deducted from the value-added tax payable in the following months.
In addition, matters that have not been handled before shall be implemented in accordance with the provisions of this notice.
The value-added tax-free policy of pension institutions has a wide impact, indirectly affecting the pension of hundreds of millions of people across the country.
The pilot project of deferred commercial endowment insurance with individual tax deducts up to 1.2 million yuan per year? In April of 20 18, the Ministry of Finance, the State Administration of Taxation and other five departments recently jointly issued the Notice on Launching the Pilot Program of Personal Tax Deferred Commercial Endowment Insurance, which was officially launched on May of 20 18.
Simply put, this policy means that buying endowment insurance can delay tax payment, and the premium can be deducted before tax within a certain standard, and personal income tax will be levied when individuals receive commercial pensions, with the maximum pre-tax deduction of 1.2 million yuan per year. ?
Specifically, the expenses of individuals in the pilot areas who purchase qualified commercial endowment insurance products through personal commercial endowment fund accounts are allowed to be deducted before tax within certain standards; Personal income tax will not be levied temporarily on the investment income included in the personal commercial pension fund account; Personal income tax will be levied when individuals receive commercial pensions.