| Supervisor
of Insurance: |
| Is
an Exempt Insurance Company subject to taxation? |
| Answer: |
| General Benefits: |
| 1. 0% income tax
on profits and gains for first 15 years |
| 2. income tax for
the next 15 years limited to the 2% on the first US$125,000 of taxable
and at a rate of 0% in respect of all other taxable income in excess of
US$125,000 |
| 3. no withholding
tax on dividend, interest and certain other returns |
| 4. guarantee of tax
benefits for 30 years |
| 5. exemption from
tax on the transfer of all or any of the assets and securities of a licensee,
management company or holding company to any person, subject to certain
conditions; exemption from tax on the issue or transfer of any security
of a licensee traded on a recognized securities exchange |
| 6. tax concessions
for specially qualified employees |
