China's Ministry of Finance has published Announcement No. 72 of 2019 on the pre-tax deduction policy for insurance enterprise handling fees and commission expenses. The announcement provides that insurance companies may deduct up to 18% of their premium income for such expenses, with the excess allowed to be carried forward. The announcement also includes that prior rules as provided in Circular No. 29/2019 regarding such expenses continues to apply, although Article 1 of the Circular is re…