Chapter IV
TURNOVER AND EXPENSES
Section 1. TURNOVER AND EXPENSES OF INSURANCE ENTERPRISES
Article 19.- Turnover of insurance enterprises
Turnover of an insurance enterprise is the collectible amount of money arising in a period and includes:
1. Turnover from insurance business activities, which is the collectible amount arising in a period after subtracting payable amounts for reducing revenues arising in a period.
a/ The collectible amounts arising in a period include:
- Original insurance premium;
- Re-insurance undertaking charge;
- Re-insurance ceding commission;
- Charges for agency services, including: damage assessment, consideration for indemnity payment, request for the third party’s compensation, handling of cargo eligible for 100% indemnity;
- Damage assessment charge, excluding free-of-charge assessment among internal cost-accounting member units of the same independent cost-accounting insurance enterprise.
b/ Payable amounts for reducing revenues arising in a period include:
- Refunded insurance premium;
- Reduced insurance premium;
- Re-insurance assignment charge;
- Refunded re-insurance undertaking charge;
- Reduced re-insurance undertaking charge;
- Refunded re-insurance ceding commission;
- Reduced re-insurance ceding commission.
2. Turnover from financial activities:
a/ Revenue from investment activities as defined in Section 3, Chapter II of this Decree;
b/ Revenue from securities purchasing and selling activities;
c/ Revenue being interest on deposits;
d/ Revenue from asset leasing;
e/ Re-entried balance of securities price decrease reserve;
f/ Other revenues as prescribed by law.
3. Revenues from other activities:
a/ Proceeds from the assignment, sale and/or liquidation of fixed assets;
b/ Bad debts, which have been written off but are now recovered;
c/ Fines for contract breaches;
d/ Other revenues as prescribed by law.
Article 20.- Expenses of insurance enterprises
Expenses of an insurance enterprise are payable and deductible amounts arising in a period, including:
1. Insurance business expenses, which are payable and/or deductible amounts arising in a period, after subtracting collectible amounts for purpose of reducing expenses arising in such period.
a/ Payable and deductible amounts arising in a period include:
- Original insurance indemnities for non-life insurance, or insurance sums for life insurance;
- Re-insurance indemnities;
- Deductions for setting up operation reserves;
- Insurance commission;
- Damage assessment expense;
- Charges for agency services, including damage assessment, consideration for payment of indemnities, claim for compensations by the third party;
- Expense for handling of cargo subject to 100% indemnity;
- Expense for management of insurance agents;
- Expense for risk and damage prevention and minimization;
- Expense for assessment of risks of the insured;
- Wage, remuneration, bonus, severance and amounts of wage and remuneration character as provided for by law for each type of enterprises;
- Payable social insurance and medical insurance premiums as prescribed by law;
- Other expenses as prescribed by law for each type of enterprise.
b/ Amounts, which must be collected to reduce expenses arising in a period, including:
- Re-insurance ceding indemnity;
- Compensations from the third party under claims;
- Proceeds from the handling of cargo subject to 100% indemnity.
2. Expenses for financial activities:
a/ Expenses for investment activities according to the provisions of Section 3, Chapter II of this Decree;
b/ Interests to be paid to life insurance policy holders;
c/ Asset leasing expenses;
d/ Banking fees, loan interests;
e/ Deductions for setting up securities price decrease reserve;
f/ Other expenses as prescribed by law.
3. Expenses for other activities:
a/ Expenses for assignment, sale and/or liquidation of fixed assets;
b/ Expenses for recovery of bad debts, which have been written off but are now recovered;
c/ Expenses paid as fines for contract breaches;
d/ Other expenses as prescribed by law.
Article 21.- Excluded expenses
Insurance enterprises shall not be allowed to account into their expenses the following:
1. Fines that must be paid by collectives or individuals for their law violations;
2. Expenses for capital construction investment, fixed asset procurement, hard-life allowances for laborers and financial support for organizations and individuals as prescribed by law for each type of enterprise;
3. Public-service expenses, rewards, welfare allowances, regular and irregular hard-life allowances and other expenses covered by other funding sources;
4. Other unreasonable expenses as prescribed by law.
Section 2. TURNOVER AND EXPENSES OF INSURANCE BROKERAGE ENTERPRISES
Article 22.- Turnover of insurance brokerage enterprises
Turnover of an insurance enterprise is the collectible amount of money arising in a period and includes:
1. Turnover from insurance brokerage activities:
a/ Insurance brokerage commissions, after subtracting reimbursed or reduced insurance brokerage commission amounts;
b/ Other revenues as prescribed by law.
2. Turnover from financial activities:
a/ Turnover from securities purchasing and selling activities;
b/ Interests on deposits, interests on loans;
c/ Asset rental;
d/ Re-entried balance of securities price decrease reserve;
e/ Other revenues as specified by law.
3. Income from other activities:
a/ Proceeds from the assignment, sale and/or liquidation of fixed assets;
b/ Bad debts, which have been written off but are now recovered;
c/ Fines for contract breaches;
d/ Other revenues as prescribed by law.
Article 23.- Expenses of insurance brokerage enterprises
Expenses of an insurance brokerage enterprise are payable amounts arising in a period, including:
1. Expenses for insurance brokerage activities:
a/ Expense for insurance brokerage activities;
b/ Expense for purchase of occupational liability insurance;
c/ Wage, remuneration, bonus, severance and amounts of wage and remuneration character as provided for by law for each type of enterprise;
d/ Payable social insurance and medical insurance premiums as prescribed by law;
e/ Other expenses as prescribed by law for each type of enterprise.
2. Expenses for financial activities:
a/ Asset leasing expenses;
b/ Banking fees, loan interests;
c/ Deductions for setting up securities price decrease reserve;
d/ Other expenses as prescribed by law.
3. Expenses for other activities:
a/ Expenses for assignment, sale and/or liquidation of fixed assets;
b/ Expenses for recovery of bad debts, which have been written off but are now recovered;
c/ Expenses paid as fines for contract breaches;
d/ Other expenses as prescribed by law.
Article 24.- Excluded expenses
Insurance brokerage enterprises shall not be allowed to account into their business operation expenses those specified in Article 21 of this Decree.
Tìm kiếm
Nghị định 43/2001/NĐ-CP (Bản Word)