China

Details

  • Service: Tax
  • Industry: Financial Services
  • Type: Business and industry issue, Publication series, Regulatory update
  • Date: 6/12/2012

SAT and MoF clarify Corporate Income Tax deduction rules for insurance reserves 

China Alert: Financial Service Focus - Issue 4, June 2012

 

The Ministry of Finance (MoF) and the State Administration of Taxation (SAT) recently jointly issued Caishui [2012] No.45 (Circular 45) subsequent to circular Caishui [2009] No.48 (Circular 48), Notice on CIT Deduction of Reserves for Insurance Companies, which was in effect from 1 January 2008 to 31 December 2010. Circular 45 clarifies the detailed CIT deduction rules for various reserves for insurance companies. Circular 45 is in effect from 1 January 2011 to 31 December 2015.

China alert: Financial Service Focus
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