Global Insurance Regulatory and Premium Tax Update – August 2015
The Global Insurance Regulatory and Premium Tax Update provides a summary of the latest insurance regulation and premium-related developments affecting insurance contracts procured by a multinational group.
The update covers:
- Canada: Alberta – Premium tax increase.
- Greece – Increase in insurance premium tax rate.
- India – Increase in service tax on insurance premiums and broker fees.
- Indonesia – Restriction on non-admitted insurance; new property tariff rates.
- Malaysia – Goods and services tax.
- Namibia – Compulsory cessions.
- Serbia – Non-admitted insurance.
- South Korea – Property tariff rules changed.
- Turks and Caicos Islands – Freight and insurance tax repealed.
- United Kingdom – Increase in insurance premium tax rate.
- Vietnam – Premium payment term.