On The Perfection Of Tax Preference Legislation Of Individual Tax Deferred Endowment Insurance In China

With the gradual deepening of population aging in western developed countries in the middle of last century,the old-age care problem has become the focus of scholars.In fact,once residents retire,their personal income will drop sharply.It is necessary to save money for their old age in advance to ensure that they have income and food and clothing in their old age.Through research,western scholars have found that giving taxpayers appropriate tax incentives can stimulate them to buy commercial endowment insurance and improve their old age income level,thus resulting in individual tax deferred endowment insurance.The implementation of the individual tax deferred pension system will not only help improve the quality of life of the elderly,but also reduce the government's fiscal expenditure and improve the pension security system.However,China's individual tax deferred pension insurance is still in the pilot stage,and there are still some problems such as the lack of legal basis,the insignificance of tax incentive,and the prominent unfair phenomenon of tax.However,domestic scholars' researches on the tax preference of this endowment insurance also focus on the pilot provisions,and seldom discuss how to improve the tax preference legislation of China's individual tax deferred endowment insurance from the theoretical and legal aspects.This paper will combine multi-disciplinary knowledge to clarify the basic theory of tax incentives for individual tax deferred pension insurance,clarify the legal basis of tax incentives,and further refine the specific provisions of tax incentives with tax fairness and justice as the guidance.Different from the general commercial endowment insurance,the individual tax deferred endowment insurance has distinct characteristics of tax incentives.This paper,by clarifyingits internal basic theory,reveals the important role of the individual tax deferred endowment insurance tax incentives.After evaluating the development of tax incentives for tax-deferred old-age insurance in China,this paper,drawing on the experience of tax incentives for tax-deferred old-age insurance in foreign countries,proposes to add a special clause in the individual income tax law to clarify the legal basis for the implementation of tax-deferred old-age insurance.And further limit the scope of participants,refine the amount of individual tax credit,introduce new tax incentives and increase tax penalty measures,in order to improve China's individual tax deferred endowment insurance tax incentives legislation.