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In order to implement the pilot work of personal tax-deferred commercial pension insurance，The State Administration of Taxation issued the "Announcement on Collection and Administration Issues Concerning the Pilot Program of Personal Tax-Deferred Commercial Pension Insurance" (hereinafter referred to as the "Announcement")。For the convenience of taxpayers’ understanding，The main issues in the "Announcement" are interpreted as follows:

1. Background of the Announcement

In order to implement the spirit of the 19th National Congress of the Communist Party of China，Promote the construction of a multi-level pension insurance system，Conduct useful exploration on supporting the development of the third pillar of pension insurance，Ministry of Finance、State Administration of Taxation、Ministry of Human Resources and Social Security、China Banking and Insurance Regulatory Commission、The China Securities Regulatory Commission is based on the spirit of the executive meeting of the State Council，Jointly issued the "Notice on Launching the Pilot of Personal Tax-Deferred Commercial Pension Insurance" (Finance and Taxation [2018] No. 22，Hereinafter referred to as "Notice")，Regulations effective from May 1, 2018，In Shanghai、Fujian Province (including Dafabet reviewsXiamen City) and Suzhou Industrial Park implement personal tax-deferred commercial pension insurance pilot。Expenditures of individuals in pilot areas purchasing commercial pension insurance products that comply with regulations through commercial pension fund accounts，Allow pre-tax deduction within certain standards。Investment income included in personal commercial pension fund account，No personal income tax for the time being。When an individual receives a commercial pension，Collect personal income tax according to regulations。In order to facilitate taxpayers to enjoy the policy in a timely manner、Standardize tax returns，The State Administration of Taxation issued the "Announcement"，Further clarified related operational issues。

2. Main contents of the "Announcement"

(1) Relevant requirements for tax declaration

To facilitate the withholding agent、Individual industrial Dafabet reviewsand commercial owners、Contracting and leasing operators of enterprises and institutions、Tax returns for sole proprietorship investors and natural person partners of partnerships，The "Announcement" stipulates that personal payment should be deducted before tax，Still using the original personal income tax return，However, when taxpayers or withholding agents file tax returns or submit personal income tax withholding reports，Need to attach "Personal Tax Deferred Commercial Pension Insurance Pre-tax Deduction Details"，Set detailed information on expenditures for purchasing personal tax-deferred commercial pension insurance (hereinafter referred to as "tax-deferred pension insurance")。In the process dafabet live casinoof account fund income，No need to submit any information。When an individual receives a commercial pension，The withholding agent still uses the original withholding personal income tax report form。Clear at the same time，Taxpayers who did not renew or surrender their insurance，The withholding agent or the competent tax authority should be promptly informed of the termination of pre-tax deductions。

(2) Relevant collection and management regulations for approved collection

To ensure the popularity of the pre-tax deduction policy for tax-deferred pension insurance，It is convenient for individual industrial Dafabet reviewsand commercial owners to verify and collect taxes、Contracting and leasing operators of enterprises and institutions、Individual proprietorship investors and partnership natural person partners enjoy preferential policies，The "Announcement" stipulates: "implementation of approved collection，The "Personal Tax Deferred Commercial Pension Insurance Pre-tax Deduction Details" and the Tax Deferred Pension Deduction Voucher should be submitted to the competent tax authorities，The competent tax authorities shall accordingly reduce their taxable income or tax payable according to procedures。The taxpayer’s payment amount has changed、Not renewed or surrendered，Should promptly notify the competent tax authorities，Reassess taxable income or tax payable”。

(3) Calculation method of “taxable income”

The "Notice" stipulates: "Obtaining income from production and operation of individual industrial and commercial households、Individual industrial Dafabet reviewsand commercial owners who earn income from contracting and leasing operations of enterprises and institutions、Sole proprietorship investor、Natural person partners and contracting and leasing operators of partnership enterprises，The deduction limit is determined based on the lower of 6% of the taxable income for the year and 12,000 yuan。”For how to calculate taxable income，The "Announcement" stipulates: "Individual industrial and commercial owners、Individual proprietorship investors and contracting and leasing operators shall be treated as individual industrial and commercial households、Sole proprietorship、The total amount of contracting and leasing income determines taxable income;The taxable income of natural person partners of a partnership shall be determined based on the total income of the partnership multiplied by the partner distribution ratio”。

(4) How to deal with failure to provide tax-deferred pension deduction vouchers in a timely manner

Situations in which taxpayers fail to provide tax-deferred pension deduction certificates in a timely manner，To ensure taxpayers enjoy relevant preferential treatment，According to the relevant provisions of the Personal Income Tax Law and the Tax Collection and Administration Law，The "Announcement" clearly states: "Individuals have not deducted tax-deferred pension deductions in the past due to their failure to provide proof of tax-deferred pension deductions in a timely manner，The withholding unit can make additional deductions to the month in which the deduction should be made，And recalculate the tax that should be withheld in accordance with the provisions of dafabet live casinothe "Notice"，Apply for deduction or apply for tax refund in the month you receive the deduction voucher”。

(5) Implementation time

The "Announcement" will come into effect on May 1, 2018.