China: Health insurance products, preferential individual income tax treatment

China: Health insurance products, individual income tax

The China Insurance Regulatory Commission (CIRC) introduced a pilot program in certain municipalities that provide preferential individual income tax treatment for certain health insurance products. The guidance clarifies that the preferential individual income tax treatment for the subject health insurance policies is available for commercial health insurance products that are issued in accordance with these rules and purchased by individuals in the pilot cities. Life insurance companies and their affiliates that engage in the business of individual income tax preferential health insurance policies must satisfy the requirements under this guidance. The CIRC will release a list of the qualified insurance companies and update the list regularly.

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The guidance is: Bao Jian Fa [2015] No. 82 (known as “Circular 82”). The effective date if 10 August 2015.


Read a September 2015 report prepared by the KPMG member firm in China: Updates on health insurance products qualified for preferential IIT treatment

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