This alert discusses the tax treatment of the above changes under RBC 2 framework which have an impact on taxation taking effect in YA 2021.
The new RBC framework “(RBC 2 framework)” took effect from 31 March 2020. Notwithstanding the changes to the regulatory framework, the Comptroller of Income Tax “(CIT)” will generally maintain the existing tax treatment for insurers.
This alert discusses the tax treatment of the above changes under RBC 2 framework which have an impact on taxation taking effect in the Year of Assessment “(YA)” 2021.
