The insurance sector should not undergo tax discrimination treatment

The insurance sector must submit to the same principles of corporate income tax as the rest of the economy so that the sector's development is opened.

That was the main demand of the sector companies at a meeting held at the American Economic Ode in Kosovo, where the main challenges weighing heavily on the insurance sector were discussed.

Representatives of security companies expressed confidence that the current situation, where corporate income tax is collected as a percentage of gross cuts for the respective year and not based on real profits of companies, as is the case with companies of all other sectors, which according to them represents clear discrimination and unfair treatment that makes the development of the sector impossible.

Consequently, insurance sector companies see as necessary changing the relevant provisions of the Corporation Order Taxation Law, which was also envisioned as the measure of the Papos Fiscal 2.0, approved by the Government in June of this year.

The meeting also discussed some of the challenges facing this sector, including the failure to implement the Automes Law, where, according to company representatives, losses for Kosovo's budget as a result of non-complete vehicle registration amounted to millions.