Article 75 - Taxation of Insurers

(1) This Part applies to all QFC Entities licensed to carry on business as an Insurer.
(2) Subject to the provisions of this Part, an Insurer is liable to tax on its Accounting Profit as defined by Article 15, and as adjusted by these Regulations.
(3) An Insurer is taxable on investment income generated from its Licensed Activity.
(4) The funded basis of accounting is not acceptable for the purpose of these Regulations.