Insurance Europe calls for EU tax simplification to boost competitiveness

Insurance Europe is advocating for the simplification of the European Union's tax framework, a move estimated to provide an 8 billion euro benefit. The organization emphasizes that reducing tax complexity is vital for business competitiveness and lowering compliance costs.

For insurance intermediaries, particularly small and medium-sized offices, the current administrative burden impacts operational costs and limits the time available for client service and business development. In a joint statement titled “Europe Cannot Prosper Under The Weight Of Unnecessary Complexity,” 24 organizations urged EU member states to maintain the ambition of the European Commission's tax simplification package. The group clarified that their request for a more cohesive framework is not a call for tax reduction, but rather for the removal of unnecessary administrative hurdles.