What information is required for insurance enterprises to be exempted from business tax

According to the Notice of the Ministry of Finance and the State Administration of Taxation on the Business Tax Exemption Policy for Refundable Life Insurance Products with a Term of More Than One Year (Cai Shui [2015] No. 86), the following announcements are made on the relevant filing and management issues after the abolition of the approval matters for the exemption of business tax on refundable life insurance products with a term of more than one year:

A. The insurance companies start up their business tax exemption products in compliance with the requirements stipulated in the document of Cai Shui [2015] No. 86. The insurance company shall send the filing information to the competent tax authorities for filing the business tax exemption according to the following provisions:

(1) The insurance company shall send the filing information to the competent tax authorities for filing in the first tax filing period of the insurance products enjoying the tax preferential policies;

(2) During the period of meeting the conditions for tax exemption, if the content of the filing information of the insurance products (b) During the period of meeting the conditions for tax exemption, if the content of the filing information of the insurance products has not changed, the insurance company does not need to file the information again;

(c) if the content of the filing information submitted by the insurance company has changed, if it still meets the requirements for tax exemption, it shall file the change with the competent tax authorities within the tax filing period of the following month when the change has taken place; if it is no longer in line with the requirements for tax exemption, it shall stop enjoying the exemption, and make the tax declaration in accordance with the regulations.

The filing information submitted by the insurance company includes:

(1) the receipt of filing or approval document of the CIRC for the insurance products (copy);

(2) the insurance terms and conditions of the insurance products;

(3) the rate table of the insurance products;

(4) other relevant information required by the competent tax authorities.

Third, the insurance company is responsible for the authenticity and legality of the filing information. The competent tax authorities review the completeness of the filing information provided by the insurance company and do not change the responsibility of the insurance company for true declaration.