Question
a.
In their country of incorporation
b.
In each country where they operate
c.
In the country where their head office is registered
d.
In the country with the highest tax rate
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. Where is a reinsurer liable to income tax on profit based on their worldwide business?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
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
Q. What type of payments can be received into foreign currency accounts by insurers in India?
View solution
Q. Which liabilities can be paid out of foreign currency accounts by insurers in India?
View solution
Q. Without requiring permission, which types of claims can be settled by insurers in India?
View solution
Q. Which statements are required to be submitted periodically to the Reserve Bank of India by insurers in India?
View solution
Q. Which statement is required to be submitted annually to the Reserve Bank of India by insurers in India?
View solution
Q. In India, which of the following Acts governs the law and regulation relating to use of foreign exchange in respect of insurance and reinsurance transactions overseas?
View solution
Q. What aspects is reinsurance accounting comprehensively connected with?
View solution
Q. How is reinsurance commission typically expressed?
View solution
Q. What is overriding commission in reinsurance?
View solution
Q. How is the percentage of brokerage payable in reinsurance determined?
View solution
Q. What is profit commission in reinsurance?
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!
