Despite taxation being a largely sovereign matter, many tax issues are increasingly being discussed and decided at international level.
GFIA seeks tax rules that are fair and effective and do not create unintended consequences for insurers or impose unnecessary compliance burdens on them.
GFIA engages with the work of the OECD and the EU, as well as on the regulatory reforms of individual countries. GFIA supports policymakers’ efforts to combat tax avoidance and base erosion profit shifting, while seeking to ensure that any regulatory measures that affect the industry are workable, well targeted, and do not result in unintended consequences for insurers or on the availability and cost of insurance coverage for consumers.
Click here for the taxation article from GFIA’s 2019-20 Annual Report.