Wednesday , January 27 2021

Due to the SII provision of insurances that the insurance company precludes



The participation in these types of instruments is 9.4% in the insurance insurance segment.

This concern has created a tax document in the life insurance industry three weeks ago according to the Internal Monetary Fund (SII).

Last December, the authority published an additional tax for 2019, which clarifies the state of payment of taxes.

In view of this, the Chilean Insurance Association (AACH) showed surprise, especially in terms of life insurance.

"This is amazing, last year there was no tax change that could lead to this innovation," said Executive Vice President of AACH, Jorge Claude.

However, it is an always existing provision from the service. "Under the current regulations, the underlying nonprofit gains, returns or growth-based insurance policies have been emphasized".

In addition, they have pointed out that in August, some representatives of the industrial sector have met "as a result of the increase or expiration of the insurances within the term of the contract or the amount, according to the amount of tax assets in accordance with the amount".

Faced with this, associations and companies have worked hard to understand the scope of these provisions. They say that different actions are joint or individual, to determine the purpose of this service and to determine the characteristics of life insurance against payment of taxes.

Insurance participates

In this segment, the only Account for Investments (CUI) and Savings Banks (SVA) are insurance.

The CUI insurance is a combination of protection and savings and a part of the private savings segment.

The participation of this type of insurance is 9.4% in the insurance insurance segment.

In the case of policies issued in the previous year, 72,683 policies were published and an increase of 5.8% with respect to the same period of 2017, according to the AACH.

With regard to the budget, in the third quarter of 2018, the direct premium for this type of instrument amounted to $ 434 million, a fall of 29% in September 2017.


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