Is it tax deductible to buy annuity insurance?

Buying annuity insurance is not tax deductible. Annuity insurance only involves asset inheritance and death compensation. At present, there is no inheritance tax, and there are no relevant regulations. It has nothing to do with tax avoidance and cannot play the role of tax reduction. There are only three types of commercial insurance that can reduce taxes, but they only involve personal income tax relief, namely enterprise annuity or occupational annuity, tax deferred pension insurance and tax preferential insurance. Let's take a look at the specific types of insurance that can reduce taxes when buying annuity insurance:

1, enterprise annuity or occupational annuity

According to the relevant policies and regulations, the personal contribution of enterprise annuity, which does not exceed 4% of the tax base of enterprise annuity payment wages, is temporarily deducted from the personal taxable income in the current period. For example, if the monthly salary is 65,438+0,000, and the monthly annuity is 400 yuan, then 400 yuan can be deducted when filing tax returns. If there is annuity insurance, this part of the tax will automatically show the deduction when reporting. Only the supplementary pensions established in government institutions and state-owned enterprises are called occupational annuities, and the supplementary pensions established by other enterprises are called enterprise annuities. Commonly known as two gold besides five insurances and one gold, but this is not mandatory.

2. Tax-excellent commercial health insurance

Tax premium insurance requires a tax deduction, which can only be deducted if you have a tax premium identification code. The top four are the years of insurance purchase. If other identification codes cannot be deducted, you can generally deduct taxes through the tax APP operation. The deduction of this tax-excellent health insurance can be deducted before tax according to the limit standard of 2400 yuan/year, that is, 200 yuan/month. The threshold of tax premium insurance is not high, and you can take out insurance even if you are sick, which is equivalent to the combination of medical insurance and universal account. The money in the universal account cannot be collected casually, and can only be used for medical care and commercial insurance.

3. Tax-deferred pension insurance

After purchasing tax-deferred old-age insurance, you can enjoy a tax extension of 6% of your monthly income or up to 12000 yuan per year, whichever is lower. The amount of tax exemption after retirement is levied at the total tax rate of 7.5%. This is an endowment insurance product that can delay tax payment. It's not tax exemption, it's just a delay in paying taxes. At present, tax-deferred pension can only be bought in Shanghai, Fujian and Suzhou industrial parks. This is a pension jointly piloted by the government and insurance companies.

I'll write here whether the tax on annuity insurance can be reduced.