商业养老保险税收优惠模式的选择——基于税率敏感性分析

The Choice of Tax Incentive Models for Commercial Pension Insurance—Based on the Tax Rate Elasticity Analysis

商业养老保险税收优惠政策是国家通过让渡政府税收收入,激励居民个人参与商业养老保险的一种财政手段。但是由于不同的税收优惠模式产生的激励效果和税收成本不同,受二者的影响,税收优惠模式的选择成为政策实施的主要问题。因此特别选用消费者最大消费效用表示政策收益,税式支出表示政策成本。利用离散时间的动态规划和现值公式测算现阶段我国采用不同税收优惠模式下的产生的政策成本与收益。为方便比较,再引入税率弹性概念代表政府和消费者对税率变动的敏感程度。通过具体数值的测算,税式支出对于税率变化富有弹性,而消费效用对税率变化缺乏弹性。

The tax incentives for commercial pension insurance are a fiscal measure to stimulate consumers to participate in pension insurance through releasing government tax revenues. The cost of the policy and the incentivizing effectare different under various incentive models, therefore model selection becomes the key issue in the implementation of the policy. We introduced tax expenditure as the cost of the policy, and the maximum consumption of utili- ty as the policy earnings. Then utilizing the dynamic projection of discrete time and the present value formula, we calculated the policy costs and earnings for adopting different models under the current situation. Then for ease of comparison, we introduced the elasticity of tax rate to represent the government and consumer＇ s sensitivity to tax rate change. The result showed that the tax expenditure was more sensitive than consumption utility.