The United Nations General Tax Administration Of The Ministry Of Finance Issued A Preferential Tax Notice

In September 14th,

The circular stipulates that the China Insurance Guarantee Fund Company Limited (hereinafter referred to as the insurance guarantee fund company) shall be exempted from the enterprise income tax according to the 6 incomes obtained by the insurance protection fund management measures (hereinafter referred to as the "management measures").

The 6 kinds of income of the insurance protection fund company are: the insurance guarantee fund paid by the domestic insurance company according to law; the proceeds from the liquidation of the bankrupt insurance company's liquidation property and the proceeds obtained from the relevant responsible parties, and the pfer of property obtained from the risk disposal of the insurance company according to law; the proceeds from donation; interest income from bank deposits; interest income from government bonds, central banks, central enterprises and central financial institutions issuing bonds, and the income obtained from other funds approved by the State Council.

According to the insurance protection fund company

The following four taxable certificates of the insurance insurance fund company shall be exempted from stamp duty. The newly established capital account book. The risk pfer of insurance companies and the pfer of property rights signed in the bankruptcy assistance process; 3. the refinancing contract signed with the people's Bank of China in the process of risk management; and 4., the property insurance contract signed by the insurance insurance fund's own property and the paid assets received and the insurance company.

The other parties who sign the above taxable contract or pfer of property rights according to the insurance insurance fund company shall stamp duty on them.

In addition, the Ministry of Finance stipulates that the notice will be implemented from January 1, 2009 to December 31, 2011.

Should be exempted from the payment made by the insurance guarantee fund company from January 1, 2009 to the date of writing.

A wholly state-owned Chinese insurance guarantee fund limited liability company shall be responsible for the collection, management and use of the insurance guarantee fund in accordance with the law.

In the following two situations, the insurance protection fund can be used: the insurance company is revoked in accordance with the law or bankrupt according to law, and its liquidation property is not enough to cover the interests of the insurance policy; the CIRC has determined that the insurance company has significant risks and may seriously jeopardize the public interest and financial stability of the society.