Thursday, October 1, 2009

Taxation for certain contracts for life insurance

The submission to the payroll taxes of certain contracts of life insurance will be included in financing plan for Social Security (PLFSS) to be presented Thursday at the National Assembly, said on Wednesday the Minister of Budget.
Under the Social Security Financing Bill, "we will broaden the participation of capital income to finance social protection," said Eric Woerth, during a meeting with journalists. The government wants to submit to social charges (CSG and CRDS) contracts multichannel units of account whose capital was exempt from CSG and CRDS (12.1%) for death.
"I think the CSG on contracts for life insurance multichannel Death (...) If you do not die there CSG, if you die there is no CSG, find the error "said the minister. The expected revenue would amount to 270 million euros, according to the press.
While the French Federation of Insurance Companies (FFSA) has not yet responded, the French association for savings and retirement (Afer) was made immediately heard through an open letter to President Republic published in the press.

The first association of French investors protested against a proposed "legally inconsistent" and asks the president "does not change the rules along the way." "You are personally committed to keeping your promises (...) not to return to the permanent tax and social insurance-life," the president of Afer, Gerard Bekerman, who recalls that 12 million French are insured "to build capital retirement.

"They've trusted (...) They will trust you (...) Just to keep this treasure, this trust to enforce the commitments you have made," he concludes.

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