The Study On The Legal System Of The Deferred Endowment Insurance Of Individual Income Tax In China

To cope with the aging population structure brought about by economic development and rising living standards,and relieve the stress of support for the elderly,China has gradually established The Multi-Level Pension Insurance System which based on basic pension insurance,occupational pension and personal commercial pension insurance.however,the current level of development of the old-age insurance system still cannot match the increasingly rapid aging trend,and the low level of old-age insurance replacement rate is unable to meet the people’s growing needs for a better life.As a personal commercial endowment insurance,personal income tax deferred endowment insurance is able to guide a large amount of social capital into the endowment insurance industry through taxation policies and increases the overall scale of China’s endowment insurance,personal income tax deferred endowment insurance was hidden for ten years and finally reappeared again.Admittedly Since the experimental unit implementation of the insurance system,its tax legal system exposes many problems.The author intends to use the concept of the rule of tax law,analyze the law problem in the experimental unit and propose perfect countermeasures,with a view to contributing to the construction of a personal income tax deferred endowment insurance system that meets the needs of China’s pension insurance.In addition to the introduction,this article consists of four parts:The first part introduces the concept of China’s multi-level endowment insurance system and various tax models of personal income tax deferred endowment insurance.The second part examines the status quo of the legal system of personal income tax deferred endowment insurance in China and summarize its problems.Tianjin experimental unit was suspended in just one month due to excessive tax benefits and the tax incentives of Fujian and Shanghai experimental unit are low-level and contrary to the spirit of tax fairness.Besides,reverse income redistribution is severe and procedure of pre tax deduction is tedious.In the context of rule of tax law nowdays,Chinese personal income tax deferred endowment insurance will violate the principles of taxation,such as taxation legalism,tax fairness and Principle of tax payment convenience.The third part introduces the legal systems of personal commercial insurance in Germany,the United States and Canada and their enlightenment to China.On the basis of full consideration of its national conditions,Germany Riester Reform has gradually promoted the reform of personal commercial insurance.The Individual Retirement Accounts fully reflects the profound understanding of taxpayers in the United States tax law.Canadian Registered Retirement Saving Plans are effective in curbing the reverse redistribution of tax-deferred pension insurance income.Examining the legal systems of individual commercial endowment insurance in the above countries can provide a constructive way to improve the tax legal system of individual tax deferred endowment insurance in China.The fourth part puts forward suggestions to improve the personal income tax deferred endowment insurance system in China.This section suggests that the personal income tax deferred endowment insurance system should raise the level of legislation to achieve taxation legalism.Taking into account the specific personality of taxpayers when enacting tax incentives and And making a proportionate review of the personal income tax deferred endowment insurance system to achieve principle of fair taxation.Establish a preferential tax model combining a fixed amount with a phase out system to suppress the reverse redistribution of income.Eventually,Incorporating a pre-tax deduction procedure for individual tax deferred pension insurance into special additional deductions to reduce tax costs and improve tax compliance.