Question
a.
Taxation imposed on reinsurers on the basis of an assumed income
b.
Stamp duties on premiums, commission, and profit commission
c.
Withholding tax on reserve deposit interest
d.
Certification duty on reinsurance contracts
Posted under IC85 Reinsurance Management
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. Which type of taxation is suggested as a possible solution for budget problems?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. What makes determining the profit of a reinsurer difficult?
View solution
Q. What does the insurer-reinsurer relationship aim to do?
View solution
Q. Which types of companies give rise to extreme fluctuations in reinsurance?
View solution
Q. What event impaired the capital of many insurers and reinsurers and resulted in insolvencies?
View solution
Q. What is the ideal approach to taxing a reinsurer's profit?
View solution
Q. How does the practice of deducting tax at source as a percentage of the reinsurance premium impact the administration costs of the insurer?
View solution
Q. What is the purpose of indicating a net premium to the ceding insurer (reinsured)?
View solution
Q. How can a reinsurer optimize their results and pay taxes regularly?
View solution
Q. What is the tax known as when it is levied on direct or reinsurance premium?
View solution
Q. In which country is a Service Tax of 5% levied on direct premium?
View solution
Q. Where is a reinsurer liable to income tax on profit based on their worldwide business?
View solution
Q. How is interest on premium reserve released treated for tax purposes?
View solution
Q. How do some insurers reduce administrative work related to reserves and interest?
View solution
Q. What is the percentage of service tax that is levied on direct premium in India?
View solution
Q. Why is national self-sufficiency in reinsurance not feasible in the long run?
View solution
Q. Which act governs the law and regulation relating to the use of foreign exchange in insurance and reinsurance transactions in India?
View solution
Q. According to the Foreign Exchange Management Act, can a person resident in India take any general or life insurance policy issued by an insurer outside India?
View solution
Q. Who grants permission to GIC Re, the national reinsurer of India, for arranging remittances of foreign exchange in respect of their reinsurance arrangements?
View solution
Q. How do insurers in India obtain permission to remit foreign exchange for their reinsurance transactions?
View solution
Q. Which entities are permitted by the Reserve Bank of India to maintain foreign currency accounts in foreign countries for facilitating general insurance business undertaken abroad?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
