Should a company selling property or casualty insurance charge VAT on the value of its intermediation services
Question:
Should a company selling property or casualty insurance charge VAT on the value of its intermediation services or on the entire premium? What does the difference between the premium and the value of intermediation services represent?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
The treatment of Value Added Tax VAT on insurance services can vary depending on the tax regulations in the specific country where the insurance compa...View the full answer
Answered By
Marcus Solomon
I am committed to ensuring that my services always meet the clients' expectations.
4.60+
82+ Reviews
117+ Question Solved
Related Book For
Value Added Tax A Comparative Approach
ISBN: 9780521616560
1st Edition
Authors: Alan Schenk, Oliver Oldman
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Read the comment letter below written by Micron's CFO to the FASB dated June 30, 2004 and answer the following question. Director of Major Projects Financial Accounting Standards Board 401...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Baseball Magazine, a domestic corporation, markets pictures of baseball players on its website. Its database server is in the Cayman Islands. Baseball fans access the Web page and use their credit...
-
Taxi drivers have a lot of flexibility in choosing their work hours, and we can readily observe their response to an increase in the wage. An increase in the taxi fare, which is regulated by cities,...
-
You are promoting a rock concert in your area. Each member of your team will invest $10,000 of his or her hard-earned money in this venture. It is April 1 and the concert is scheduled for June 30....
-
\((3 c)^{6}\) Simplify the expression.
-
(Two Differences, No Beginning Deferred Taxes, Tracked through 2 Years) The following information is available for McKee Corporation for 2010. 1. Excess of tax depreciation over book depreciation ,...
-
given two points on a line line passing through the points (8,-1) and (2,-7). Undefined 2 answers
-
The main interjurisdictional issues in the context of federal countries are: a. Dividing the VAT tax base among the jurisdictions while avoiding overlapping and underlapping. b. Collecting the tax...
-
If a legislature decides to tax some or all insurance services, what difference does it make to a business that purchases a taxable insurance policy if the legislature adopts the New Zealand or...
-
What is a master document and how is one used?
-
If, Autonomous Private Final Consumption Expenditure = $ 12,000, Exports = $ 5000 Investment Expenditure = $ 4500, Government Final Consumption Expenditure = $ 6800 Government Investment Expenditure...
-
Light Company is considering purchasing a machine that would cost $578,800 and have a useful life of 5 years. The company estimates an annual net operating income of $115,000 including depreciation...
-
Consider a base station (BS) with transmission power 10dB at frequency F-900MHz; a mobile user M is located 50m away from the BS, and another user N is located 20 meters away from the BS. (1) Using...
-
Suppose a Summons and Complaint were filed on February 16, 2021 and personally served on the defendant on March 1, 2021, please calendar the following dates: a the day Proof of Service of Summons and...
-
An employee in Qubec receives the following remuneration: bi-weekly salary of $1,500.00 and a non-cash taxable benefit of $150.00. The employee contributes 3% of salary to a Registered Pension Plan...
-
Use the WestlawNext Campus Research State Taxes practice area to answer the following questions: a. What document types are available under the State Tax tab for the state of Maine? b. Select All...
-
The outer loop controls the number of students. Note that the inner loop of this program is always executed exactly three times, once for each day of the long weekend. Modify the code so that the...
-
A new client, John Dobson, recently formed Johns Premium Steakhouse, Inc., to operate a new restaurant. The restaurant will be a first-time business venture for John, who recently retired after 30...
-
Collettes S corporation holds a small amount of accumulated earnings and profits (AEP), requiring the use of a more complex set of distribution rules. Collettes accountant tells her that this AEP...
-
For each of the following independent statements, indicate whether the transaction will increase (+), decrease (), or have no effect (NE) on the basis of a shareholders stock in an S corporation. a....
-
Question 20 (1 point) A is the maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions. A) market...
-
You work for a supplier that provides technology products to a variety of industries. One of your partners calls you and indicates they need to buy 10 computers that will run an application that...
-
"Ecommerce is the newest and most disruptive distribution channel wherein 1 po goods and services are represented virtually online and then distributed directly to the buyer" Agree Disagree
Study smarter with the SolutionInn App