Iplan Solutions

The Benefits Of Telematics Based Insurance 🔎

📍 Telematics-based insurance policies allow consumers to customise their insurance policy according to their driving habits. For example, “pay as you drive” insurance calculates the premium based on the actual mileage. Therefore, it can benefit anyone who wants to take control of their insurance costs. In particular, it can:

🔆 Benefit young and inexperienced drivers who would otherwise pay higher premiums;

🔆 Reward low-risk drivers with lower premiums;

🔆 Reduce insurance costs for drivers who drive less frequently, thereby improving road safety and helping to cut greenhouse gas emissions;

🔆 Greatly reduce the length of the claims process and deter fraudulent claims.

Penalty for late payment of tax in EU 👈🏽

⌛ If you do not file a tax return on time, you will have to pay the penalty for late registration. For example, in Germany, the taxpayer is penalised for each month of delay by 0.25% of the accrued tax. So, for a total tax of €10,000, you have to pay €25 per month.

📌 If you delay paying tax, you will have to pay a higher penalty - 1% of the unpaid amount for each month during which there was no payment.