Finance

Insurance Companies Tax

The Insurance Companies Tax applies to the premium revenue of insurance companies.

Effective July 1, 2016, insurance companies are required to remit to the province a tax of 5% of premiums generated in Newfoundland and Labrador during a particular year. Prior to July 1, 2016, the rate for Insurance Companies Tax was 4%.

For more information about the Insurance Companies Tax, please contact the Tax Administration Division.

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