Notice on Clear Policies of Exemption of Value Added Tax in Old-age Institutions
The policy defines the scope of application:
For medical institutions:
From February 1, 2019 to December 31, 2020, medical institutions have been entrusted by other medical institutions to provide the National Price Project for Medical Services in accordance with the guided prices for medical services (including government guided prices and prices determined by consultation between suppliers and demanders) formulated by the competent price departments at or above the prefectural (municipal) level, in conjunction with the competent health authorities at the same level and other relevant departments. The services listed in the Specification may be exempted from VAT as stipulated in Article 1 (7) of the Provisions on the Transition Policy for the Pilot Reform of Business Tax to VAT (Published on Finance and Tax No. 36).
For units within an enterprise group (including an enterprise group):
From February 1, 2019 to December 31, 2020, VAT is exempted from the free borrowing of funds between enterprises (including enterprise groups).
For insurance companies:
Insurance companies that offer refundable life insurance products for more than one year shall comply with the following provisions:
(1) The premium income obtained by insurance companies before the insurance regulatory authorities issue the case receipt or approval documents for returnable life insurance products with a period of more than one year belongs to Article 1 of the Notice of the State Administration of Taxation of the Ministry of Finance on the Business Tax Exemption Policy for Personal Insurance Products with a period of more than one year (Fiscal and Tax [2015] No. 86), and the Pilot of the Change of Business Tax into Value Added Tax (VAT). The insurance premium income stipulated in Item 21 of Article 1 of the Provisions of the Transit Policy (Finance and Tax [2016] 36). (2) If an insurance company meets the tax exemption conditions stipulated in Articles 1 and 2 of Finance and Taxation [2015] 86 and is not included in the list of exemption Business Tax issued by the Ministry of Finance and the General Administration of Taxation, it may go through the formalities of filing with the competent tax authorities. (3) When an insurance company starts a refundable life insurance product for more than one year, it may deduct the VAT due in the following month after it has been included in the list of exemptions from business tax issued by the Ministry of Finance and the General Administration of Taxation or has gone through the formalities for tax exemption filing.
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