Insurance reporting – Ortax

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Help answer yes colleagues. health coverage contributions, etc. do not include property. which includes property is only a premium in the form of investment (unitlink). For unitlink premiums, it can be filled using the property code 039 (other investments). If the colleague has a unitlink premium, so that it can be requested to the coverage dues party to be printed the final balance as of December 31, then it can be reported at the tax return.I hope it helps.

ONE COLLEAGUE, THE INSURANCE IS NOT A PROPERTY, AND IT IS NOT TAXED.Check out the following link:

http://notesasuransi.blogspot.co.id/2016/08/asuran the-not-treasure.html

Insurance is not a treasure LIFE INSURANCE IS NOT AN ASSET, NOT A PERSON’S PROPERTY. If we have a Life Insurance policy, the policy cannot be moved. It cannot be used as a credit guarantee. Can’t be mortgaged. It can be left, to the insurance company that closes the coverage — the term, on ‘surrender’.

It is true, there is a cash value in life insurance contribution products for life. Or there is a cash value plus the accumulated value on universal life life premium products. Or there is an investment value in unit link life insurance dues. But using all these values, know that all, by ownership, belong to the basis of the Life Insurance company. Just look at how life insurance companies record the bookkeeping of the value of investments entered.

So, in the concept, all funds go into PREMIUM RESERVES. From this insurance reserve will be withdrawn funds on a scheduled basis to pay the coverage dues. The difference between a lifetime life premium and unit link life insurance is a form: in the lifetime life premium, the form is in the form of cash value, which the company will invest in low-risk instruments. But in unit links, the form is in the form of managed funds or assets, the value of which is divided using the number of existing units so as to create a net asset value (NAB).

It may look similar using mutual funds, but on unit links there is a big disparity. In mutual funds, customers remain as owners of funds, which are collected collectively in one investment contract. Ownership of this asset is transferred to the hands of the guardian or custodian based on the customer, namely the custodian bank. The investment manager does not hold the fund; They just manage it.

Another case with unit link soul premium. What has the funds is the life coverage dues, which are collected collectively. No guardian is needed here — then, there needs to be no custodian bank on unit link life insurance dues. Indeed, the pool is included in what is considered a PolicyHolder Investment Fund that must be separated based on assets and other liabilities, but this group is still included in the balance sheet of the Life Insurance Company.

Unit link investments can be withdrawn and spiked, as if the PolicyHolder owns it personally, but it should be understood that this is a feature given by the premium company. Therefore, life insurance companies have the flexibility to regulate the determination of the calculation of the value of net assets aka unit prices, and the determination of insurance costs and additional benefits porto, as well as other costs taken by disbursing available units.

In Sharia insurance, the situation is different. The reserve of coverage dues or investment value is not owned by the insurance company, but belongs to the combination of policyholders. There is an agreement or contract made between the policyholder, in addition to the contract between the policyholder and the premium company. In sharia coverage dues, the insurance company only acts as a manager, who imposes porto management. If there is a profit, the results are shared among the participants.

Because it is not a property owned by the PolicyHolder, then basically nir insurance needs to be included on the list of property in tax reporting. Changes in investment assets in the coverage dues will be taxed when the transaction is carried out by the investment management who manages them, so for policyholders it is no longer taxed. This is also the case with mutual funds. Tax regulations in Indonesia also state that claims for coverage dues are not tax objects.

The difference is if the insurance is located abroad, while the policyholder and the insured are in Indonesia. Claims from premiums abroad are considered to be income according to foreign countries, unless previously stated & explained based on where the premium is based on where the premium is based. It is important to note that the payment of coverage dues is not a tax deduction. So, the premium of coverage dues should be paid from income that has been calculated tax.

Having a coverage contribution policy means having an agreement along with a large group of people, as a result of which it can ensure a genre of funds will occur in the future, although individually the future cannot be ascertained. If the property or asset can be lost or reduced in value, insurance is able to ensure that the property or asset is of fixed value.

One model. For example, someone has a shophouse, with a value today of Rp 3 billion. Let’s say he’s 65 now – he’ll probably die globally at 75, that’s 10 years to come. It is expected that with a regular price increase every year of 8%, then at the time of 10 years when the world dies, the value of the shophouse as Rp 6,476 billion. However, there is certainly uncertainty here. How to ensure annually the price increase is undoubtedly 8%? Isn’t it true that shophouses can be sold using promotional prices, bonuses here and there?

Insurance is not a property whose value can change up and down unexpectedly. With insurance whose premium is less than Rp 3 billion, an agreement can be obtained with Sum Insured Rp 6,474 Billion when died globally, even though other shophouses are now also worth Rp 3 billion, at that time sold only with a number of Rp 4 billion. Get in on the certainty!

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