Abstract
In order to alleviate the pressure of the basic endowment insurance system, China has implemented the policy of individual income tax-deferred commercial endowment insurance (IITDCEI) and actively explored the development path of individual supplementary endowment insurance. At present, the same tax rules are adopted for different income groups. Considering that people's income gap is large, different income groups enjoy different degrees of tax preference under this policy, which may cause social injustice and increase the gap between the rich and the poor. Based on this, we propose a new optimization scheme by adjusting the tax rate and the maximum premium limit of the insurance amount so as to coordinate the interests of low-, medium-, and high-income subjects and balance the degree of tax preference among the three subjects. At the same time, we also change the two parameters of the predetermined interest rate and retirement age, and compare the changes of the tax preference under the old and new schemes, and provide corresponding countermeasures for the implementation of the IITDCEI policy.
Highlights
Introduction ere are three pillars inChina’s endowment insurance system: the first pillar is social basic endowment insurance, the second is the supplementary endowment insurance of enterprises, including enterprise pension and occupational pension, and the third is individual supplementary endowment insurance
The research on the fairness of different income groups mainly focuses on qualitative aspects, while the research on quantitative aspects is less. erefore, in view of the fairness problems existing in different income groups, that is, the different degree of tax preference, this paper puts forward the idea of adjusting the tax rate and the maximum premium limit of the insurance amount by category, and provides some suggestions for the implementation of the individual income tax-deferred commercial endowment insurance (IITDCEI)
It can be seen that under the current system of IITDCEI, the middle-income group benefits the most, while the low-income group and high-income group benefit less than the middle-income group. is policy is obviously unfair
Summary
IITDCEI is a kind of innovative endowment insurance product based on the theory of tax expenditure. Erefore, in view of the fairness problems existing in different income groups, that is, the different degree of tax preference, this paper puts forward the idea of adjusting the tax rate and the maximum premium limit of the insurance amount by category, and provides some suggestions for the implementation of the IITDCEI. Is paper uses the current IITDCEI policy in the pilot area, calculates the tax difference between TEE mode and EET mode, and compares the tax-saving effect of different income groups. We will change the tax rate of the receiving stage to analyze the impact of the change on the low-income group and change the maximum limit of premium to analyze the impact on the high-income group On this basis, we will optimize the existing scheme to make the benefits of low, middle, and high-income groups relatively fair in the existing IITDCEI.
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