On 28 October 2009, following a decision of the Federal Finance Court, the BMF (Federal Ministry of Finance) issued a new decree regarding the tax payable on premiums and benefits paid under employer-funded accident insurance policies. According to this, for policies under which the employee has no direct claim in case of eligibility for benefits, only the premiums paid up until that date to the current employer - instead of, as before, the benefits paid - are taxable. Intermediaries and insurers alike should inform their corporate clients as soon as possible about this reform.
About the Product
Group Accident Insurance