Any Tax you can immagine
In the Netherlands, we have only one type of tax and then we are lucky to have a uniform rate of 21%. But other countries have different rules.
Belgium
There are several taxes on insurance products in Belgium, such as:
* Annual tax on insurance contracts (TPV)
* Tax on the disabled
* Riziv
* The Red Cross tax
* The Domains and
* The Corporate tax, etc.
Does your insurance package consist of several coverages such as comprehensive insurance, liability and legal assistance?
Then these fees are sometimes payable on the premium of one risk but not the other.
There is seemingly no end to the misery, as theamount of the fees alsovaries depending on the coverage!
If policy fees are charged, then another the average fee must be charged on top of this for each type.
hospitalisation insurance and dental insurance. The rate of
Insurance software
So with Real-Access Software, this is no problem at all.
TAX in varieties
Australia, for instance, is divided into several states. Just as is the case in America (US).
Each state has different rules for calculating insurance taxes. Thanks to an ingenious module, Real-Access software offers adequate calculation, collection and remittance of regional taxes even then.
Team RealXS has managed to set up its insurance software in such a way that every conceivable form of tax on insurance products is calculated and invoiced to the nearest cent. Collects it from the consumer the adviser, broker, GA, and it is remitted to the party who will settle it with the tax authorities.