Question ID: 1034
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 20 Dec 2016
Question
Regarding the above Asset QRT report it was always our assumption that the calculation of Realised Gains/Losses shall be gross of any taxes, therefore we assume that it is also gross of any fees (i.e. Policy related fees, Admin fees, transactional fees, etc.) also. We have received several queries in relation to this from our custodians. We were unable to find guidance on your website.
Can you kindly confirm that the above assumption is correct?
EIOPA answer
The calculation to be followed for the Realised Gains/Losses is described in the Instruction:
The gains and losses are calculated as the difference between selling or maturity value and the value according to Article 75 of Directive 2009/138/EC at the end of the prior reporting year (or, in case of assets acquired during the reporting period, the acquisition value).
The net value can be positive, negative or zero.
This calculation should be performed without interests accrued.
Therefore EIOPA confirms that calculation should be gross of any taxes of fees.