Tax
The indirect tax problem
Tax compliance can be a challenging issue for insurers and as Anne-Louise Fogtmann discovers unprecedented levels of indirect tax changes across Europe in 2013 are likely to keep insurers on their toes.
Aon revisits bonus payout decision
Insurance broker Aon is considering backtracking on an offer to delay payment of employee bonuses until the start of the new tax year, according to reports.
Aon defers bonuses to benefit from lower tax
Aon has offered staff the option to benefit from lower income tax by delaying bonus payments until after April.
Motor tax to hit French policyholders
French policyholders will bear the brunt of a new motor premium tax according to consultancy Fiscal Reps.
European View from the Top: The tax obligation
On 9 December 2012, Danny Alexander, Chief Secretary to HM Treasury, told multinational firms that paying UK corporation tax is an obligation, not "a voluntary choice" they can make to please their customers.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Tax changes cause new year headaches for European insurers
Tax changes that came into effect in Denmark, Hungary and the Netherlands on 1 January 2013 could pose challenges for insurers and brokers.
Corporation tax could hit 20%: PWC
UK Chancellor George Osborne could shave corporation tax further next year following his announcement that it would fall to 21% by April 2014.
Guernsey’s zero-10 regime gets EU approval
Guernsey’s zero-10 corporate tax regime has been given the final seal of approval by the European Union.
Corporation tax cuts are 'encouraging', says RSA SME boss
RSA has applauded government plans to cut corporation tax to help struggling small and medium-sized businesses.
Chancellor promises corporation tax cuts
The government has pledged to cut corporation tax to 21% by April 2014 in a bid to help struggling British companies.
Top five European news stories
The top five European news stories from wwww.insuranceinsight.com over the past seven days.
The emerging business travel risk
Global travel is an important part of today’s business world, but as Pat Drinan explains increased compliance issues can come with insuring risks across borders.
Spanish provinces introduce direct premium tax collection
Four Spanish provinces have exercised their autonomous right to collect taxes direct from insurers.
Indirect tax changes to hit European insurers in 2013
Insurers should brace themselves for an unprecedented level of indirect tax changes in Europe in 2013, intensifying the challenge of maintaining tax compliance.
Insurers face ‘unprecedented’ tax bill
Insurers face an unprecedented level of indirect tax charges in Europe and, therefore, a tougher challenge of maintaining tax compliance, according to Fiscal Reps.
Greek Motor Guarentee Fund levy increases may see insurers withdraw from market
Insurers doing a small amount of Greek motor third party liability may withdraw from the market after the government passed a law to make changed to the Greek Motor Guarantee Fund.
Philippines GI industry wants tax break on microinsurance
General insurers in the Philippines are lobbying for lower taxes on premiums as an incentive to offer microinsurance.
Esure founder could quit Britain
Esure founder Peter Wood, pictured, is considering relocating to Jersey to escape the UK's tax burden.
Proposal to remove tax insurance check branded 'absurd'
The AA has critcised the Driver and Vehicle Licensing Agency's proposal to remove the insurance check when car owners apply for a tax disc.
FATCA approach provides certainty, says Guernsey Finance
Guernsey Finance has welcomed the announcement from the island's government that it is seeking to negotiate a partnership agreement with the US to implement the Foreign Account Tax Compliance Act.
French treasury to raise €800m via tax on insurers
French insurers and reinsurers face a 7% hike in the exit tax on capitalisation reserves, if proposals in the 2013 budget go ahead.
EU placated as Guernsey repeals "harmful" tax provisions
Guernsey's revised zero-10 corporate tax regime has been given a clean bill of health by the European Union after previously being deemed harmful by regulators.
Guernsey signs tax agreements with Italy and Latvia
Guernsey has signed tax information exchange agreements with Italy and Latvia in an effort to increase transparency with the two European Union member states.