Voluntary pension insurance is a type of personal insurance. Under a contract of personal insurance, one party (the insurer) is obligated by the contract for a fee (premium) paid by the other party (the insurer) to pay a lump sum or paid from time to time stipulated by the contract amount (sum insured) in the case of achievement by an insurer or other citizen named in the contract ( insured) or the occurrence of a certain age in his life otherwise provided by agreement of the event (the insured event) (§ 1 of Art. 934 Civil Code). The right to receive the sum insured belongs to the person in whose favor the contract.
The contract of personal insurance is concluded in favor of the insured person, unless the contract is not named as a beneficiary of another person. In the event of death of a person insured under the contract, which is not named a beneficiary, the beneficiaries are recognized heirs of the insured person (§ 2 of Art. 934 Civil Code).
Taxpayers who have concluded contracts for voluntary pension insurance and paid in 2007 premiums under such contracts entered into with an insurance organization in its favor and (or) in favor of a spouse (including widow, widower), parents (including adoptive parents) disabled children (including adopted children under guardianship (trusteeship), you should also check the latest changes made by the legislator in the art. 213 of the Tax Code by Federal law from 24.07.07 № 216-FZ. provisions of Art. 213 NC the Russian Federation shall determine the tax base, especially in the delivery of tax returns (PIT) insurance contracts. Learn more about cheap auto insurance!
In particular, in accordance with clauses 4 tbsp. 213 of the Tax Code in determining the tax base for personal income tax are not considered income derived by the taxpayer in the form of insurance payments for voluntary pension insurance contracts concluded by individuals in their favor with insurance companies, upon the occurrence of pension basis in accordance with the laws of the Russian Federation. In this case, the pension base – the base is the acquisition of a contracting party the right to receive non-state pension.
Upon termination of contracts of voluntary pension insurance (except for termination for reasons beyond the will of the parties) and the return of an individual cash (redemption) amount to be in accordance with the rules and conditions of the contract of insurance payable at termination of such agreements, income received after deduction of made by the taxpayer insurance premiums taken into account when determining the tax base for personal income tax and is subject to taxation at source, which is the insurer (insurance company).
Pay attention! In the event of termination of the voluntary pension insurance (except for termination for reasons beyond the will of the parties) in determining the tax base for personal income tax paid by an individual are taken into account under this contract the amount of premiums in respect of which he was granted social tax deduction specified in clause . etc. 4 in 1 tbsp. 219 of the Tax Code.
