Slovakia: the new 8% insurance tax will be operational starting January 2019

The Slovak Parliament adopted on 20 June the new legislation replacing the current 8% insurance levy with a new tax of the same amount applied to non-life insurance premiums, except for MTPL for which the current levy will be maintained.

The new tax will be effective as of January 1, 2019.

The Government initiative was repeatedly criticized by insurers, as well as by other stakeholders as customers associations, employers, analysts etc. due to its foreseen potential rise in prices of insurance products.

Yet, the Ministry of Finance maintained his position, claiming that insurers have resources to absorb at least in part the additional expense by a better control of their operational costs, not increasing the insurance prices.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

13.09.2018

Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

10.09.2018

AIR launches severe thunderstorm model

Catastrophe risk modeling firm AIR Worldwide released a new severe thunderstorm model for Europe. Together with AIR's Extratropical Cyclone Model for Europe and European flood models, this new model now allows for a comprehensive assessment of atmospheric risk in this region.

10.09.2018

See all