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China Insurance Security Fund to enjoy favorable taxation policy

 

Wednesday, Sep 15,2010, 8:39:38 PM   Click:

China Insurance Security Fund Co. could enjoy certain favorable taxation policy, according to a notice jointly issued by the Ministry of Finance and the State Administration of Taxation.

According to the notice, the fund's certain revenues could be exempted from corporate income tax, business tax, and deed tax covering the period January 1, 2009 to December 31, 2011.

China's insurance companies should make payments to the Insurance Security Fund in line with their premium income. In cases of insurers going bankrupt, the fund would compensate the policy holders.

The fund had purchased a stake in New China Life Insurance, which it then transferred to Central Huijin Investment, a subsidiary of the China Investment Corp.

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