What is it?
It is levied at 20% on the total third party insurance premium collected in a month.
Who is responsible for the collection and payment of the levy?
The insurance company that is providing the third party insurance shall be liable for the levy.
Who is exempted from the levy?
The levy shall not be charged to the customer or included in the third party insurance premium paid by the customer to the insurance company.
What are the restrictions?
It is restricted to third party insurance payments only and does not include any premiums paid for any other insurance covers.
Print This Page