Our Country's Insurance Industry's Tax System: Status Quo Analysis And Reform Orientation

As the stabilizator of the society, insurance is an important part in the national economy, it has a closely relationship with finance and tax. Whether the insurance market can develop quickly, it's up to whether the state can provide related policies to support, particularly the insurance industy's tax system. Based on the characters of insurance, the tax system not only affects the accumulation of insurance reserve fund and solvency of a company, but also affects the insurance company's competitive ability and sound development of the industry.At present, the insurance industry's tax system of our county is formally implemented starting from January 1 2008, although this system has broken the parallel status of the two tax systems which Chinese and foreign insurance companies execute dividually, and the tax rate has achieved unity, but in general there are still many defects, and in practice, there is also a large gap between China and developed countries. Compared with our last tax system, although it improved a lot, it has a great gap with our aim, and it also can't reflect our tax policy guidance. In the economic globalizational environment, there are many different kinds of factors influencing the development of economic, a country's tax system not only should maintain economic security and the development of the economy, but also should promote the development in compliance with the economic globalizational trend. If the insurance industry's tax system of our country couldn't coordinate with nationallife and international practice, it will influence the development of insurance and national finance, and the speed of China stepping into the world insurance market will also get more slowly. Considering these, it's necessary to study the problems of the current insurance industy's tax system, and deeply research the ways of improvement, which is a major realistic problem that must be solved.This article:insurance industry's tax system:status quo analysis and reform orientation, based on our country's tax system, analyzes the status quo and pros and cons. At the same time, comparing with insurance industry's tax system of developed countries, the article brings forward reform proposals for the insurance development in the future.For this reason, the structure of this article arranges as follows:Chapter 1:Prologue. Introducing the research status and development of insurance industry's tax system in and abroad.Chapter 2:researching the content of insurance industry's tax system, from the point of economics, analyzing how insurance industry's tax system influence the supply and demand of the insurance market, and using coordinate graph to elaborate the role of insurance industry's tax system in insurance development.Chapter 3:introducing insurance industry's tax system of our country. Retrospecting the development and characters of insurance industry's tax system in China, elaborating our current insurance system of taxation in detail, mainly analyzing two tax categories:the specific content of Business tax and business income taxes.Chapter 4:researching the general situation of developed countries' insurance industry's tax system and comparatively analyzing the tax system of China and foreign countries. Taking American, Japan, and Canada as examples, subsequently, probing into the differences of tax rate, tax base and tax preferences between China and foreign countries'insurance company.Chapter 5:It's the key part to discuss how to improve our country's insurance system of taxation. Firstly, analyzing separately business tax and business income taxes of three life insurance companies and three.non-life insurance companies from 2004 to 2009, and elaborating how the tax system affects the development of insurance. Secondly, studying the theoretical basis of reforming the insurance industry's tax system, in order to establish the reform direction. Finally, based on Chinese nationallife, bringing forward reform proposals for business tax and business income taxes separately.The innovation of this article lies on carding and integrating on the basis of other experts' studies. At the same time, from the economic point of view and using practical data, researching deeply the effect and the advantages and disadvantages of insurance industry's tax system of China and foreign countries. Moreover, raising reform proposals for the insurance development in the future.