Ministry of Finance and State Administration of Taxation, Announcement on the Policy for the Pre-tax Deduction of Handling Charge and Commission Expenditures by Insurance Enterprises

财政部、国家税务总局关于保险企业手续费及佣金支出税前扣除政策的公告

July 04, 2019 | BY

Susan Mok

Pre-tax deduction of insurance companies is clarified

Clp Reference: 3230/19.05.28 Promulgated: 2019-05-28 Effective: 2019-01-01
|

Issued: May 28, 2019

Effective: January 1, 2019

Main contents: The portion of the balance of an insurance enterprise's handling charge and commission expenditures incurred in connection with its business activities that does not exceed 18% of all of its premium income for the year after the deduction of surrender value, etc. may be deducted when calculating its taxable income. The portion exceeding 18% may be carried forward and deducted in subsequent years (Article 1).

| clp reference: 3230/19.05.28 issued: 2019-05-28 effective: 2019-01-01

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]