Shanghai Personal Tax Extension Pension Insurance Pilot Gradually Asymptotically

Long-standing personal tax extension endowment insurance Gradually approaching. It is reported that the pilot work of individual tax extension pension insurance in Shanghai has been preliminarily consistent among relevant departments and will be accelerated as one of the key tasks next year. At present, preparations for all aspects of Shanghai are all in place and are expected to break through next year.

The so-called personal tax extension endowment insurance, usually refers to. Insure People pay premiums at the forefront of taxes. Benefits And then pay personal income tax. This is the first attempt in China to implement the preferential tax policy for personal payment of personal insurance, which involves many departments such as the CIRC, the State Administration of Taxation, the Ministry of Finance and the Ministry of personnel protection, and it is necessary for the relevant departments to make concessions, and the coordination and work is difficult. If the personal tax extended pension insurance is implemented, the delayed payment of the tax will get the time value of the money, and can participate in the investment to gain the income.

It has been revealed that recently, a closed door meeting was held between the heads of relevant departments. The leaders of relevant departments discussed the issue of Shanghai's pilot personal tax extension pension insurance. According to sources, under the vigorous coordination of relevant departments, the departments have achieved initial agreement. The participants also stated that the personal tax extension pension insurance will be the focus of next year's work and strive to advance as soon as possible. However, the conference only discussed the pilot scheme of Shanghai, and did not put the whole country into a pilot project.

According to sources, according to the memorandum of cooperation signed by the CIRC with the Shanghai municipal government, the introduction of the deferred tax policy for personal pension insurance is considered to be the top priority in the insurance industry serving the contents of the development of Shanghai financial center. Up to now, Shanghai's pilot preparations have been put in place. A project team has been set up at the government level in Shanghai and a plan has been worked out. And the implementation of personal tax extension pension insurance pilot details, has also been reported to the regulatory authorities, waiting for approval. However, the news has not yet received official response.

In fact, how to balance the existing basic old-age insurance and the tax treatment of supplementary pension insurance is the biggest challenge facing the relevant departments, and it is also the key to decide the progress of individual tax extension pension insurance pilot. Previously, the China Insurance Regulatory Commission and the Tianjin Binhai New Area first introduced tax incentives for supplementary pension insurance, but their tax preferences were too high and were not stopped by the State Administration of taxation.

According to the reporter, there are now many insurance companies including China Life Insurance, China Taibao, Ping An pension, Taiping pension, Yangtze River endowment insurance and other insurance companies to participate in the initial pilot work. Among them, the Pacific Insurance Life Insurance Company has participated in the research of individual tax extension pension insurance organized by the Shanghai Insurance Regulatory Bureau. It is mainly responsible for product design, process formulation and system development research. It also assists in the calculation of the financial impact of personal pension insurance tax incentives on Shanghai.