News Weather extremes
Broad Weather Insurance more attractive from 2020
If it is up to State Secretary Menno Snel (Finance), the insurance tax on the Broad Weather Insurance will disappear in 2020. This should make it more attractive to take out insurance. The European Commission must first approve the measures.
Monday 12 November will make Snel in a letter to parliament known that it wants to abolish the insurance tax of 21%. However, this is only possible if the European Commission (EC) has no state aid objections. In the coming period, the State Secretary will discuss this with the EC.
Important bottleneck
The insurance tax is seen as an important bottleneck for taking out a Broad Weather Insurance. End of September voted a majority of the House of Representatives for a motion to abolish the tax. Also insurers, such as Vereinigte Hagel, shouted to this.
According to Jan Schreuder, director of Vereinigte Hagel, the rest of Europe already has an insurance tax exemption. The tax generates €4 million annually in the state treasury, which the agricultural sector cannot use as a deductible item.
LTO Nederland says it is satisfied with the decision, and says it has also lobbied for months for this, but would rather see an abolition as of 2019 instead of 2020.
Niels van der Boom
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