Article 74 - Policy Statement on Insurance Companies

Insurers are liable to tax under these Regulations on the basis of their Accounting Profits, determined by accounts prepared in accordance with GAAP (as defined by Article 15(2)) and the laws of the QFC. A QFC Captive Insurer or a Reinsurer may elect for its Chargeable Profits to be charged to tax at the Concessionary Rate in accordance with Part 15.

Amended (as from 18th June 2014)