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Announcement on the endorsement of the Cooperation Agreement between the GDT and the Financial Supervisory Authority

On September 11th, 2017, the General Directorate of Taxes signed a Cooperation Agreement with the Financial Supervisory Authority on the “Joint inspections in the insurances companies and other entities under the supervision of the FSA, as well as on the exchange of information”.

The endorsement of such agreement serves as a basis of cooperation between both institutions, in order to conduct joint inspections among GDT and FSA, pursuant to the deadlines and procedural rules in force for inspection, as well as to exchange information for purposes of these inspections.

Subject to these joint inspections/controls will be the implementation of the tax legislation in force, legitimacy of expenses done by the insurance companies, as well as the implementation of legal provisions and by-laws in force which regulate the activity of financial markets under supervision, the legitimacy of expenses done by the insurance companies, policies of mandatory insurance in the transport sector.

Thank you!