财税新政策对保险公司净利润影响点评:短期测算对利润影响在1%以内 长期或可通过资产配置转向高股息来对冲

华源证券
Aug 05

事件:7 月31 日,财政部和税务总局发布公告,宣布自2025 年8 月8 日起,对在该日期之后(含当日)新发行的国债、地方政府债券、金融债券的利息收入,恢复征收增值税。对在该日期之前已发行的国债、地方政府债券、金融债券(包含在2025 年8 月8 日之后续发行的部分)的利息收入,继续免征增值税直至债券到期。点评:1、过往保险机构持有国债、地方政府债同时享有所得税和增值税双重免税优惠,考虑到企业...

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