New indirect taxation for insurance premiums
New indirect taxation for insurance premiums
Bratislava, 27 April 2018
Pursuant to a draft law that is currently in preparation by the Slovak Finance Ministry, the insurance premium taxation of 8% will be replaced by a new rate, which will vary from 2 to 18% depending on the type of the policy.
SLASPO, the Slovak Insurance Association has criticized the new rule because it will apparently affect people who have voluntarily and reasonably concluded an insurance policy to protect themselves or their property from unforeseen events.
A novelty provided in the bill is the extension of the tax to life insurance, because by this way the income provided by life insurance will be subject to several taxation regimes.
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