Commentary

D7.513 Taxation of pure reinsurance

Corporate tax
Corporate tax | Commentary

D7.513 Taxation of pure reinsurance

Corporate tax | Commentary

D7.513 Taxation of pure reinsurance

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

Where a company's life insurance business consists wholly of reinsurance, and does not include reinsurance of a type which has been excluded by regulation, the profits are to be assessed under the life assurance trade profit provisions1. As noted above, the nature of reinsurance business meant that some pure reinsurers were already effectively assessed on a quasi-profits basis through the operation of the minimum profits test and the

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