Advance payment of stamp duty on life insurance policies with recognition of a receivable from customers

The asset must initially be recognised at its present value

The article, published in Eutekne and authored by Luca Malfatti and Giovanni Ossola, examines Document No. 10 issued by the Coordination Table of the Bank of Italy, Consob and Ivass concerning the accounting treatment, under IAS/IFRS, of the asset due from customers arising from the advance payment of stamp duty on life insurance policies classified as financial liabilities. The analysis focuses on the criteria for initial recognition at present value, the systematic framework under IAS 8, and the presentation and disclosure requirements in financial statements and periodic reporting.

Advance payment of stamp duty on life insurance policies with recognition of an asset due from customers.

Author

IPG, Luca Malfatti

Activity area

Compliance, Tax Law

Sectors

Aerospace, Automotive, Finance

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