FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Life Insurance Companies to be affected by new Tax Bill? Vote_lcap68%Life Insurance Companies to be affected by new Tax Bill? Vote_rcap 68% [ 178 ]
Life Insurance Companies to be affected by new Tax Bill? Vote_lcap18%Life Insurance Companies to be affected by new Tax Bill? Vote_rcap 18% [ 47 ]
Life Insurance Companies to be affected by new Tax Bill? Vote_lcap13%Life Insurance Companies to be affected by new Tax Bill? Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Life Insurance Companies to be affected by new Tax Bill?

Life Insurance Companies to be affected by new Tax Bill?

2 posters

Go down  Message [Page 1 of 1]

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
New Taxes will hamper life insurance industry

Highlighting that life insurance penetration was low in Sri Lanka, a senior insurance expert requesting for a helping hand from the government said that imposing new taxes would hamper future growth.
"The Inland Revenue Act clearly states, the bonus given to their customers by insurance companies is not subject to tax. But according to the new proposal this bonus is also subject to tax. This is not helping the industry," Ceylinco Life Managing Director and Chief Executive Officer R. Renganathan stressed.

Answering a question at the National Forum for Life Insurance Advisors (NAFLIA), Renganathan stressed, "If the current rate continues, it will take more than 17 years to sell life insurance policies to our labour force of 8.5 million. We need to improve the productivity and speed up the process. However, the insurance sector alone cannot reach this target. We need a helping hand from the government'.

He also mentioned that the Insurance Board of Sri Lanka (IBSL) has a major responsibility to take this message to the government.
Sri Lanka is heading towards an era in which the population aging is going to be a major concern. Life Insurance will have a significant role to play when it comes to welfare of these aged people. With frequent occurrence of natural disasters, the risks in the life of normal people are also increasing. Therefore, supporting the industry will create long term benefit to the national economy.

Teller

Teller
Moderator
Moderator
In very soon ,Bonus will liable for taxes....finally disadvantages for policy holders only.


_________________




Teller said is said..

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum