Taxing Insurance Companies (Oecd Tax Policy Studies, 3)

Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: -to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; -to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development; and -to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original Member countries of the OECD are Austria, This Study Examines The Difficult task Of Applying Income Taxation To The Life And Property And Casualty Insurance Industries. Particularly In The Case Of Life Insurance, Oecd Countries Have Pursued A Variety Of Methods To Try To Tax The Income Arising In Insurance Companies. This Study Analyses The Policy And Technical Problems That Arise In Designing An Effective Means Of Income Taxation. In Addition To Outlining The General Approaches Used By Oecd Countries In This Area, The Authors Have Drawn Upon Their Extensive Practical Experience In Designing A Tax System For The Insurance Industry In Their Home Country. Based On This Experience, They Have Addressed The Major Policy Questions Faced By Tax Policy-makers In This Area And Included A Critical Analysis Of The Various Technical Issues Which Arise In Turning Theory Into Practice. Chapter 1. Insurance As A Part Of The Financial Industry -- Chapter 2. Regulation Of The Financial Institution Industry -- Chapter 3. General Timing And Valuation Issues -- Chapter 4. Issues In International Taxation -- Chapter 5. Taxation Of Property And Casualty Insurance Companies -- Chapter 6. Comparison Of Selected Oecd Countries: Treatment Of General Insurance Under The Income Tax -- Chapter 7. Taxation And Reinsurance -- Chapter 8. Comparisons Of Selected Oecd Countries: Taxation Of Reinsurance -- Chapter 9. Life Insurance Companies -- Chapter 10. Comparisons Of Selected Oecd Countries: Income Taxes On Life Insurers -- Chapter 11. Taxation Of Policyholders -- Chapter 12. Comparisons Of Selected Oecd Countries: Policyholder Taxation -- Chapter 13. Alternative Methods Of Taxing Financial Institutions -- Chapter 14. Comparisons Of Selected Oecd Countries: Premium Taxes On Insurance Companies -- Glossary Of Terms -- Bibliography [prepared By David Holland Of The Oecd Secretariat And Denis Normand Of The Department Of Finance Of Canada]. This Study Is ... Produced By The Fiscal Affairs Division Of The Oecd--p. 3. Includes Bibliographical References (p. 107). This study is part of a series of Tax Policy Studies produced by the Fiscal Affairs Division of the OECD. It examines the difficult area of applying income taxation to the life and property and casualty insurance industries. Particularly in the case of life insurance, OECD countries have pursued a variety of methods to try to tax the income arising in insurance companies. This study analyses the policy and technical problems that arise in designing an effective means of income taxation. In addition to outlining the general approaches used by OECD countries in this area, the authors have drawn