Laws of the People's Republic of China

Circular of the Ministry of Finance and the State Administration of Taxation concerning The List ( the 16th Group )of Refundable Personal Insurance Products with a Term More than One Year Exempted from Business Tax

Cai Shui [2006] No. 115

The public finance departments (bureaus) and local taxation bureaus in all provinces, autonomous regions, municipalities directly under the Central Government, cites specifically designated in the state plan, the public Finance bureau of Xinjiang Production and Construction Corps:

Pursuant to relevant provisions of the Circular on Exemption from Business Tax on Certain Projects (Cai Shui Zi [1994] No.002) and the Circular of the Ministry of Finance and the State Administration of Taxation on Certain Issues concerning the Exemption from Business Tax on Life Insurance Business (Cai Shui [2001] No.118), it is decided after examination and verification to exempt from business tax on the premiums gained from the insurance products which are sold by related insurance companies and satisfy the conditions of exemption from tax, and the list of the insurance products exempted from tax is attached to the Appendix.

Appendix: The List of the Insurance Products Exempted from Business Tax

the Ministry of Finance

the State Administration of Taxation

September 19, 2006