Print Page
2014 VAT on Short-Term Insurance
Tell a Friend About This EventTell a Friend
 

Following Binding General Ruling 14, which took effect 1 April 2014, the focus of the seminar will include the changes brought about by BGR 14, the timing of input and output tax on premiums and commission, value of sums insured, input tax claims and deductions in respect of claims, VAT on bonuses, recoveries, excess payments, insurance to non-residents, documentary requirements to apply zero rate and/or to claim input tax, and various other topical aspects and recent developments.

2014/09/16
When: 16 September 2014
From 08:30 untill 12:30 PM (registration from 08:00)
Where: KPMG Crescent Auditorium
85 Empire Road
Parktown, Gauteng 
South Africa
Contact: Silvia Motaung


Online registration is closed.
« Go to Upcoming Event List  

OVERVIEW:

KPMG will be hosting a seminar on 'VAT on Short-Term Insurance' on 16 September 2014 to help you better understand the VAT treatment to be followed in the short-term insurance industry.

Following Binding General Ruling 14, which took effect 1 April 2014, the focus of the seminar will include the changes brought about by BGR 14, the timing of input and output tax on premiums and commission, value of sums insured, input tax claims and deductions in respect of claims, VAT on bonuses, recoveries, excess payments, insurance to non-residents, documentary requirements to apply zero rate and/or to claim input tax, and various other topical aspects and recent developments.


COURSE CONTENT:

Topics that will be covered include:

  • The ambit of VAT on short-term insurance
  • Input tax claims by insurer vs section 8(8) liability of the insured and documentation
  • Agent vs principal
  • Premiums, commissions, fees, no-claim bonuses
  • Inward and outward reinsurance
  • Trade payments vs claims payments and claims costs
  • Recoveries including reinsurance, 3rd party and salvage
  • VAT treatment of excesses, self-insurance, inner excess and documentation (BGR 14)
  • Value of sums insured
  • Group insurance including policy wording and documentation
  • Co-insurance
  • Most recent developments

Click to downloand the Agenda


WHO SHOULD ATTEND:
  • Underwriters
  • claims handlers
  • loss adjusters
  • reinsurers
  • brokers
  • and other intermediaries

 CPD:

This event and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units.. 

Including the following professional bodies: (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC)


Event Investment:

Cost: R1 700 (incl. VAT)


Payments & Cancellations

All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • Conditions:
    • If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
    • If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
 


 

 

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

  • Tax Practitioner Registration Requirements & FAQ's
  • Membership Management Software Powered by YourMembership  ::  Legal