INSURANCE TAXATION.
POSITION OF COMPANIES. METHOD OF ASSESSMENT. [BY TELEGRAPH—OWN CORRESPONDENT.] WELLINGTON, Monday. Some doubt has been expressed concerning tlie> Government's intention in amending the scale of taxation of life insurance companies. In the course of his Budget speech the Prime Minister said: "It is proposed to provide that in the case of foreign life insurance companies, the taxable income from life insurance business shall equal 25 per cent, of the premium income and consideration received for annuities."
In leply to ail inquiry to-day, the Commissioner of Taxes said the tax on the companies' income would still be assessed at half the ordinary rates, as had been the case since 1921.
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New Zealand Herald, Volume LXVII, Issue 20628, 29 July 1930, Page 10
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111INSURANCE TAXATION. New Zealand Herald, Volume LXVII, Issue 20628, 29 July 1930, Page 10
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