Financial brokers’ fees won’t not be caped
Under pressure from insurers and financial brokers, the ruling coalition is making changes to its proposed legislation. On Thursday, parliament’s finance committee approved a 3-month delay for the new 8% tax on non-life insurance policies, now to take effect on January 1, 2019. It also omitted a cap on brokers’ commissions when selling loans from the government’s bill, and softened the cap when selling life insurance policies. Parliament will have the final say on both issues shortly.