| In recent years, China's life insurance market maintained rapid development. The indices of insurance depth and insurance density also maintained consecutive growth. However, China's life insurance industry still lags behind contrast to most countries and regions all over the world. In China, life insurance consists of three parts: life insurance, casualty insurance, and health insurance that could protect body and life risks. In addition, life insurance products have functions similar to those of deposits and investment instruments. It is a low-risk and good-return financing instrument. Owing to the characteristics of life insurance products, most countries offer taxation allowance to purchasers. Especially when life insurance industry has not been well developed, the function tax policies act as insurance incentives is much more obvious.The lag-behind of China's life insurance taxation system is one of the significant reasons that hinder the life insurance market development. The establishment of life insurance taxation system is not only indispensable to trigger the demands of life insurance, but merge China's life insurance market with the global market. This dissertation will take on an individual's perspective, start from general concepts of life insurance and taxation system, and carry on a comparative research on some representative countries' life insurance taxation system, then combine the current situation of China's life insurance taxation system with the experiences learned from those countries in order to offer the specific framework for China's life insurance taxation system, and discuss some problems might encounter when establishing.This dissertation contains four chapters.Chapter 1: Life Insurance and Tax PoliciesThis chapter generalized life insurance, tax policies, taxation system and its effects on life insurance, which laid a foundation for international comparative research on life insurance taxation system.Life insurance plays an important role for individuals, enterprises, and economy. In order to analyze conveniently, this thesis divides life insurance into 4 groups: ordinary life, annuities insurance, casualty insurance and health insurance. Tax system has three important functions: national revenue increase, social policies operation, and economic control. According to tax base, tax can be subgrouped as merchandise tax, income tax, and wealth tax, while life insurance taxation system will touch the latter two.An ideal life insurance taxation system should be fair, neutral, and simple. In different period, varied types of taxes will be involved. When purchasing life insurance products, individual income tax will be involved; when beneficiary or inheritor receiving insurance indemnity or annuities, individual income tax or estate and gift taxes will be involved.Chapter 2: An International Comparison on Life Insurance Taxation SystemBased upon the features of life insurance taxation system, this chapter makes an international comparison upon life insurance taxation system of some typical countries, thus to summarize their advantages and disadvantages which should be taken into serious considerations when establishing our country's system. In this article, the author summarizes the life insurance taxation modes as North-America Mode, Europe Mode, and East-Asia Mode. This does not mean all the countries under one mode have the same taxation system, whereas it is just because of the similar economic development level, cultural heritage etc., their life insurance taxation systems have much in common.On insurance premiums side, those countries have the following similarities: (1) Most OECD member countries offer tax allowances to qualifying life;(2) Premiums paid to casualty insurance and health insurance products can have individual income tax deductions within a certain top;(3) individual income tax on annuities insurance premiums could enjoy deferred payment;(4) Except for purchaser, his (her) spouse or even children could enjoy tax allowances;(5) Amount pa... |
