Welcome to the latest edition of Global tax points for insurers, the EY newsletter which provides you with news on current developments in the ever-changing world of tax around the globe.
In this issue, EY tax professionals discuss:
• Focus of BEPS Action 4 on taxation of captive insurance companies
• Recent trends in offshore reinsurance in Canada
• Singapore as a regional hub for insurers
• Insurance premium tax stepping out of its shadow
From the perspective of the international insurance industry in Ireland, the increased focus on IPT as a source of revenue for many jurisdictions is of particular interest. Companies will need to ensure that they are keeping up with the latest developments and that they are IPT compliant in the jurisdictions where they write business.
The captive industry in Ireland will need to keep abreast of BEPS developments, in particular action 4, and ensure that their interests are represented so that decisions are not taken by policymakers which could significantly impact on the viability of the captive industry.
If you would like to discuss any of the points raised in this newsletter, please contact me or your usual EY contact.