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Tax free for 482 insurance plans

By Dai Yan (chinadaily.com.cn)
Updated: 2006-10-18 11:11

The Ministry of Finance and State Administration of Taxation have released a list of exempting 482 refundable personal insurance products with one-year terms or above from business tax.

Most of the insurance plans are health and critical illness insurance including regular premium-free life insurance, participationg and universal life insurance.

They are provided by 38 insurers such as the American International Assurance Co Ltd, Haier New York Life Insurance Co Ltd, Ping An Life Insurance, PICC Life Insurance, China Life Insurance and China Pacific Life Insurance Co Ltd.

......

The full text is available in the October Issue ofChina Insurance