odius
Allianz life Korea is on strike for 234 days.
Allianz korea, Suspicion of selling stocks-Customer’s asset ‘ Variable growth fund’ for the corporation tax reduction
PSPD pointed that if it is true to put the profits from separate accounts into general accounts for the reduction of corporate tax, it could be the tax evasion. Insurance company has to separate the accounts of variable insurances and not to reflect the investment gains of it on financial statements. Insurance companies did not reflect the investment gains of ‘separate accounts’ of variable funds on financial statements at ordinary times but only at tax times, they adjusted the ‘appraisal profits of stocks & bonds’ in separate accounts and reduced the corporate tax. This tax administration could be considered that insurance companies were using variable products for tax evasion. So, the National Tax Service made a additional charges of insurance companies’ tax administration in variable products on February 2008 (Pressian, 2008.4.16).
Allianz life Korea is on strike for 234 days.
Allianz korea, Suspicion of selling stocks-Customer’s asset ‘ Variable growth fund’ for the corporation tax reduction
PSPD pointed that if it is true to put the profits from separate accounts into general accounts for the reduction of corporate tax, it could be the tax evasion. Insurance company has to separate the accounts of variable insurances and not to reflect the investment gains of it on financial statements. Insurance companies did not reflect the investment gains of ‘separate accounts’ of variable funds on financial statements at ordinary times but only at tax times, they adjusted the ‘appraisal profits of stocks & bonds’ in separate accounts and reduced the corporate tax. This tax administration could be considered that insurance companies were using variable products for tax evasion. So, the National Tax Service made a additional charges of insurance companies’ tax administration in variable products on February 2008 (Pressian, 2008.4.16).