Insurers Want to Know Where Gov’t Spends Their Tax Money

Iran Insurers’ Syndicate has called on the government to release details about how third-party auto insurance tax revenue is spent. The syndicate has strongly opposed imposing higher taxes on insurance companies.
“We want to know in detail how insurance companies’ payments are being used. Moreover, the industry cannot live with higher taxes as proposed in the Integrated Fire Management and Control Bill,” Mohammad Karimi, the general director of the syndicate, told the National Conference on Insurance and Development on Sunday.
The bill proposes levying 10% tax on insurers’ income from third-party auto insurance policies to be used for setting up an integrated fire management system.