EIOPA · 1034

1034

Regulation
(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article
35
Submitted
2016-12-20
Answered
2019-09-23
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Question

Regarding the above Asset QRT report it was always our assumption that the calculation of Realised Gains/Losses shall be gross of any taxes, therefore we assume that it is also gross of any fees (i.e. Policy related fees, Admin fees, transactional fees, etc.) also. We have received several queries in relation to this from our custodians. We were unable to find guidance on your website. Can you kindly confirm that the above assumption is correct?

Answer

The calculation to be followed for the Realised Gains/Losses is described in the Instruction: The gains and losses are calculated as the difference between selling or maturity value and the value according to Article 75 of Directive 2009/138/EC at the end of the prior reporting year (or, in case of assets acquired during the reporting period, the acquisition value). The net value can be positive, negative or zero. This calculation should be performed without interests accrued. Therefore EIOPA confirms that calculation should be gross of any taxes of fees.
View original on European Insurance and Occupational Pensions Authority ↗

This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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