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Notice of the Ministry of Finance and the State Administration of Taxation on Continuously Implementing Taxation Policies for Insurance Security Fund

Document No.: Cai Shui [2013] No.81

Taxes:Stamp Tax,Business Tax,Enterprise Income Tax

Date of Promulgation:2012-01-01

IssueDepartment:Ministry of Finance,State Administration of Taxation

Date of Implementatio:2013-10-28


Finance offices (bureaus), state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state budgetary planand the financial bureau of Xinjiang Production and Construction Corps.:


Upon approval by the State Council, preferential taxation policies shall be continuously granted to insurance security fund. The relevant issues are hereby clarified as follows:


I. The following income obtained by China Insurance Security Fund Co., Ltd. in accordance with the “Measures for the Administration of Insurance Protection Fund” ( hereinafter referred to as the "Administrative Measures") shall be exempted from the enterprise income tax: 

1. Insurance security fund payments made by the domestic insurance companies in accordance with the law;

2. Repayment income obtained in accordance with the law from the property of a bankrupt insurance company to be liquidated or to be cancelled, income from recovery from involved responsible party and income from transfer of properties obtained from risk disposal of insurance companies in accordance with the law;

3. Donations;

4. Interest income from bank deposits;

5. Interest income from the trading of government bonds, central bank bonds, the bonds of enterprises under the Central Government, bonds issued by financial institutions at the state level; and 

6. Income obtained from other capital utilization approved by the State Council.


II. The following income obtained by China Insurance Security Fund Co., Ltd. in accordance with the “Administrative Measures” shall be exempted from business tax: 

1. Insurance security fund payments made by domestic insurance companies in accordance with the law;

2. Repayment income obtained in accordance with the law from the property of a bankrupt insurance company to be liquidated or to be cancelled and income from recovery from involved responsible party.


III. The following income obtained by Insurance Protection Fund Co., Ltd. shall be exempted from the stamp tax:

1. 1. Newly established capital accounts;
2. Written credentials of the transfer of property rights signed by insurance companies during the process of risk disposal and bankruptcy relief;
3. Re-lending contracts signed with the People's Bank of China during the process of risk disposal;
4. Property insurance contracts signed with insurance companies relying on their own properties and received repayment assets of the insurance protection fund;
5. For other parties concerned that sign the above-mentioned taxable contracts or written credentials of the transfer of property rights with the insurance protection fund, the stamp tax shall be imposed according to the regulations.


IV. The implementation period of the present Notice is from January 1, 2012 to December 31, 2014. Meanwhile, the “Notice of the Ministry of Finance and the State Administration on Relevant Taxation Issues Concerning the Insurance Protection Fund” (Cai Shui [2010] No.77) shall be abolished.


Ministry of Finance

State Administration of Taxation


October 28, 2013


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