Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
4.4 mln insurance, takaful policyholders to be reimbursed
Last update: 19/12/2018

PUTRAJAYA, Dec 19 (Bernama) – The Finance Ministry today announced tax exemptions for all individual policyholders who had bought or renewed an insurance or general takaful policy for motor, fire or accident insurance during the tax holiday period from June 1 to Aug 31, 2018.

Minister Lim Guan Eng said insurance or takaful companies are required to reimburse any services tax they had charged their policyholders.

“This move is expected to benefit 4.42 million policyholders who will save RM132 million in tax payments,” he said.

Lim said insurance and general takaful policies have been subject to the services tax since Sept 1, 2018.

Under the Service Tax Act 2018, insurance and takaful companies are required to impose a service tax on consumers who purchase or renew their insurance or general takaful policies on or after Sept 1, 2018.

-- BERNAMA


 <Back>

Alliance Islamic Bank aims to maintain double-digit growth
King's scholarship programme opens for application

 
Instill investor confidence to sustain growth, says Wahid Omar

Takaful protection value to hit RM400 bln by year-end
Life Insurance records moderate growth in 2018 - LIAM

 
Zurich appoints Mukesh as ZTMB CEO effective March 1

CLOSING, TUESDAY, MAR 19
US4.0750/079
S'pore3.0170/0204
100 Yen3.6613/6659
Sterling5.4079/4149
Euro4.6268/6321
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Banker’s Cheque, Bank Draft and Cashier’s Order. Do you think this additional charge is justified?
Yes
No
Not Sure
 
  Main | News | Insurance

© 2019 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution