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1. A Proposal to Add Insurance Reserve Clause in the Revenue Code
Proposed to the Revenue Department to consider adding an insurance reserve clause for general
insurance business in the Revenue Code. In this proposal, the general insurance business would like the
Revenue Department to support the industry by treating premium reserve and claim reserve as the expenses
when calculating taxable net profit or loss. This basis of reserve allocation is in accordance with the criteria of the
Office of Insurance Commission.

2. Views on Draft Notifications/Order Issued by the Office of Insurance Commission
2.1 The Draft OIC Notification on Assets and Liabilities Valuation
The Committee proposed the opinions on the Draft Notification of the OIC on Assets and Liabilities
Valuation of the general insurance companies. The OIC has already issued and enforced this notification.

2.2 The Draft OIC Notification on Criteria, Methods, Conditions and Duration for the Preparation and Filing
of Financial Statement and Operational Report of General Insurance Companies
The Accounting and Finance Committee and representatives of the auditing firm proposed feedbacks on
the draft OIC Notification on Criteria, Methods, Conditions and Duration for the Preparation and Filing of Financial
Statement and Operational Report of General Insurance Companies so that the companies are able to prepare
the financial statement in accordance with the generally accepted accounting standard and the accounting
standard of the Federation of Accounting Professions.
2.3 The Draft OIC Notification on Criteria, Methods and Condition for Receiving and Paying Money,
Auditing and Internal Control (Life and Non-Life Insurance) B.E. 2554
The Accounting and Finance Committee and the Legal and Regulations Committee submitted
the industry’s opinions on the Draft OIC Notification on Criteria, Methods and Condition for Receiving and Paying
Money, Auditing and Internal Control (Life and Non-Life Insurance) B.E. 2554.

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