花旗：内险股税务准则转换料为险企带来一次性影响

Core Viewpoint - Citigroup reports that the recent announcement by the Ministry of Finance and the State Taxation Administration regarding the tax treatment of insurance contract standard conversions is expected to have a one-time impact on insurance companies [1] Group 1: Regulatory Changes - The announcement pertains to the implementation of International Financial Reporting Standard 17 (IFRS 17) by listed insurance companies, which began in early 2023 [1] - The transition will require reflecting the one-time impact on retained earnings and the tax differences between the old and new standards from 2023 to 2025 [1] - Companies have the option to fully reflect these adjustments in the fiscal year 2026 or to average them over five fiscal years starting this year [1] Group 2: Financial Impact - Citigroup believes that the standard conversion will enhance the transparency of financial data for insurance companies [1] - The five-year transition period is expected to mitigate the related impacts [1] - The extent of the tax impact for insurance companies that adopted the new standard in early 2023 while still using the old tax treatment will depend on several factors, including changes in retained earnings, tax differences from 2023 to 2025, expected net profit trends for 2026 and beyond, and the amount and eligibility of deferred tax assets [1]