China’s Ministry of Finance (MoF) has published Announcement No. 72 of 2019 regarding pre-tax deduction policy for insurance enterprise handling fees and commission expenses. The announcement provides that insurance companies may deduct up to 18% of their premium income for such expenses, with the excess allowed to be carried forward.
This Announcement is effective from 1 January 2019 and applies in respect of settlement and payment for the 2018 year.
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