Group 1 - The core viewpoint of the article is that certain life insurance products with a duration of one year or more are exempt from value-added tax (VAT) [1][2] - Life insurance, pension annuity insurance, and health insurance with a term of one year or more qualify for VAT exemption [1][2] - Only insurance companies that operate these long-term life insurance products can enjoy the VAT exemption; insurance agencies do not qualify [2][3] Group 2 - When filing for VAT exemption, companies must use the specific code 0001083913|SXA31900806 in the VAT exemption declaration form [3] - Companies must retain relevant documentation, including approval receipts and insurance policy terms, for compliance [4] - Failure to retain required documentation may result in tax penalties, late fees, and negative impacts on tax credit ratings [4][5] Group 3 - Insurance companies must calculate and transfer out any previously deducted input tax after declaring exempt income [5] - Companies that file VAT on a consolidated basis must ensure that only the designated company claims the VAT exemption to avoid duplicate claims [5]