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[Translation from English to Japanese ] Life insurers are unhappy about proposed tax changes for their industry propo...
Original Texts
Life insurers are unhappy about proposed tax changes for their industry proposed in President Barack Obama's 2012 budget, but their concern is tempered by dim prospects for the moves in Congress.
The budget's implications for corporate-owned life insurance(COLI) and companies' dividends received deductions are reminiscent of the film "Groundhog Day,". The same provisions were included in administration budgets for fiscal years 2011 and 2010, but each year, Congress gave them a cold reception.
The Obama administration proposes to disallow deductions for the pro-rate interest expense of COLI policies, at a five-year savings of $979 million. "This would effectively do away with the benefit of COLI" The COLI shift would effectively be a new tax on business, according to a joint statement from ACLI, the Association for Advanced Life Underwriting, the National Association of Insurance and Financial Advisors, the National Association of Independent Life Brokerage Agencies and GAMA International. "Many businesses use COLI to protect against financial or job loss stemming from the death of owners or key employees. COLI is also used to ensure business continuation. In addition, COLI is a widely used funding mechanism for employee and retiree benefits," they said.
Congress last passed legislation on the use of COLIs for tax advantages in a bill signed into law in August 2006. A provision within a pension bill specifically limited the use of COLI policies to the top 35% of income earners in a company, or those earning more than $100,000 per year - to allay concerns about "janitor's insurance," the use of COLI policies to insure the lives of employees who earn minimal wages and who are not crucial to the continuation of a business. That legislation also required companies to report information on their COLI practices to the Service.
The administration's spending plan would also reduce the dividend received deduction life insurers utilize in accounts that fund variable life insurance and variable annuity contracts, at a savings of approximately $2.4 billion over the next five years.
The budget's implications for corporate-owned life insurance(COLI) and companies' dividends received deductions are reminiscent of the film "Groundhog Day,". The same provisions were included in administration budgets for fiscal years 2011 and 2010, but each year, Congress gave them a cold reception.
The Obama administration proposes to disallow deductions for the pro-rate interest expense of COLI policies, at a five-year savings of $979 million. "This would effectively do away with the benefit of COLI" The COLI shift would effectively be a new tax on business, according to a joint statement from ACLI, the Association for Advanced Life Underwriting, the National Association of Insurance and Financial Advisors, the National Association of Independent Life Brokerage Agencies and GAMA International. "Many businesses use COLI to protect against financial or job loss stemming from the death of owners or key employees. COLI is also used to ensure business continuation. In addition, COLI is a widely used funding mechanism for employee and retiree benefits," they said.
Congress last passed legislation on the use of COLIs for tax advantages in a bill signed into law in August 2006. A provision within a pension bill specifically limited the use of COLI policies to the top 35% of income earners in a company, or those earning more than $100,000 per year - to allay concerns about "janitor's insurance," the use of COLI policies to insure the lives of employees who earn minimal wages and who are not crucial to the continuation of a business. That legislation also required companies to report information on their COLI practices to the Service.
The administration's spending plan would also reduce the dividend received deduction life insurers utilize in accounts that fund variable life insurance and variable annuity contracts, at a savings of approximately $2.4 billion over the next five years.
生命保険会社はバラクオバマ大統領の2012年度予算で提案された保険産業の税率変更に不満を示しているが、彼らの不安は連邦議会でのはっきりしない動きの展望に和らいでいる。
法人所有の保険(COLI)の予算の含蓄と控除後の会社の配当金は映画「恋はデジャ・ヴ」を思い起こさせる。2011、2010会計年度の行政予算に同じ規定があったが、その2年、連邦議会は生命保険会社を冷遇していた。
オバマ政権はCOLI政策の利息の比例配分の控除を禁じ、9億7900万ドルの節約を提案した。「このことはCOLIの利益を効果的に排除するだろう。」
法人所有の保険(COLI)の予算の含蓄と控除後の会社の配当金は映画「恋はデジャ・ヴ」を思い起こさせる。2011、2010会計年度の行政予算に同じ規定があったが、その2年、連邦議会は生命保険会社を冷遇していた。
オバマ政権はCOLI政策の利息の比例配分の控除を禁じ、9億7900万ドルの節約を提案した。「このことはCOLIの利益を効果的に排除するだろう。」
COLIの変遷はACLI（米国生命保険評議会）、生命保険引き受け業務連合、国内社団法人生命保険ファイナンシャルアドバイザー協会、独立生命保険証券代理店、GAMAインターナショナルが出した共同声明によると、効果的に新しい企業課税となるようだ。「多くの企業は社長や重要な従業員の死による財政難や失業に備えてためにCOLIを使用している。COLIはまた、ビジネスの存続を保証するためにも使用されている。さらに、COLIは従業員や退職者のための資金調達メカニズムにも広く使用されている。」と彼らは言った。
2006年8月税の優遇措置の為のCOLIの使用に関する法案が連邦議会で可決、署名され、法律となった。
2006年8月税の優遇措置の為のCOLIの使用に関する法案が連邦議会で可決、署名され、法律となった。
年金法案の規定によるとCOLIの保険契約の使用は企業の35%までの高額所得者、または年間所得が10万ドル以上の者にすると明確に制限し、最低賃金を稼ぎ、ビジネスの存続にはあまり重量でない従業員の命を保証する為にCOLIの保険契約を使用するという「管理者の保険」が抱える不安を和らげている。その法律によると、企業が官庁にCOLIの履行の情報を報告することも必要である。
支出計画によると行政は、定まらない生命保険と定まらない年金契約に資金を提供している計算書で生命保険会社が使用している受け取り配当控除をも減らし、今後5年間でおよそ24億ドルを節約するようだ。
支出計画によると行政は、定まらない生命保険と定まらない年金契約に資金を提供している計算書で生命保険会社が使用している受け取り配当控除をも減らし、今後5年間でおよそ24億ドルを節約するようだ。
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