Explain the tax treatment of income received by life assurance companies

      

Explain the tax treatment of income received by life assurance companies

  

Answers


Wilfred
The taxable income of life assurance companies constitute of the following:
- The actuarial surplus of life funds recommended by actuary to be transferred to the shareholders
- Any other amount transferred from the life fund to shareholders
- 30% of management expenses and commissions that are in excess of the amount recommended under insurance Acts
Wilfykil answered the question on February 15, 2019 at 09:04


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