The Liability of Life Assurance Companies to pay Income Tax upon Income arising from Investments in Foreign Countries

1903 ◽  
Vol 37 (4) ◽  
pp. 402-436
Keyword(s):  
Great Britain ◽  
Income Tax ◽  
Life Assurance ◽  
Foreign Countries

The point in this case was whether the Society was liable to be assessed in respect of interest, dividends, and rents, arising from investments in foreign countries.The Society had large funds invested in various forms in foreign countries, in some of which countries the Society carried on the business of Life Assurance, and in others of which it carried on no business of any kind. It was admitted that only a part of the income arising from these investments was remitted to Great Britain, the rest of such income being either reinvested or remitted direct to other foreign countries for investment, or applied in payment of establishment and other expenses in the country where the interest was earned, or remitted direct to other foreign countries for the general purposes of the Society.

scholarly journals Opportunities for tax planning for digital companies: international experience

2021 ◽  
Vol 14 (2) ◽  
pp. 214-222
Author(s):  
A. S. Alekseev
Keyword(s):  
Great Britain ◽  
Income Tax ◽  
Rapid Development ◽  
International Experience ◽  
Tax Planning ◽  
It Industry ◽  
Tax Rate ◽  
Foreign Countries ◽  
Key Features ◽  
The One

The article deals with comparing taxation conditions of a range of countries which can be applied for IT companies as the subjects of digital economy. The author examines the peculiar features of tax privileges, tax planning tools and optimization for running digital companies in such countries as Estonia, Hong Kong, Great Britain, Malta and Ireland. These countries are included in a number of international ratings and are highly estimated by foreign experts as regards the level of convenience of doing IT business. The author especially focuses on the financial calculations of possible ways for tax optimization and the key features of implementation of the extremely popular in European countries IP-Box regimes. In conclusion the author concentrates on the patterns and trends within the tax jurisdictions under consideration including the one regarding the existing treaties on avoiding double taxation. He points out that it is possible to use the international experience in order to create competitive taxation of digital companies in Russia as part of developing addenda to the package of measures (effective 01.01.2021) which is also called “tax maneuver”. In particular, it is suggested that income tax rate for IT businesses in Russia should be altered taking into consideration the foreign countries’ indexes. Moreover, the author presents his ideas on the components of possible use of such measures as “digital residency” as part of the second package of “tax maneuver” measures. The author makes a conclusion on the importance of implementing non-taxation measures for maintaining rapid development of IT-industry in Russia and enumerates the most essential directions and problems of the IT-society and the possible ways of their realization.

Ethical boundaries of the legal regulation of conditions of carrying out genetic screening in prenatal diagnosis in Russia and abroad

2020 ◽  
Author(s):  
M.V. Medvedev , G.N. Suvorov , S.S. Zenin et all
Keyword(s):  
Prenatal Diagnosis ◽  
Great Britain ◽  
Legal System ◽  
Genetic Screening ◽  
Legal Status ◽  
Legal Regulation ◽  
Ethical Problems ◽  
Foreign Experience ◽  
Foreign Countries ◽  
General Scientific

Objectives. The purpose of this study is to study the essence of ethical problems that arise in the field of genetic screening for prenatal diagnosis (PND) and determine possible ways to overcome them by legal means, taking into account the existing foreign experience. Materials and methods. Normative legal acts and doctrinal sources of Great Britain, Germany, Ireland, France and Switzerland are studied. Methods used: General philosophical, General scientific, private scientific, special (structural-legal, comparative-legal, formal-legal). Results. Ways to resolve ethical problems that arise or may arise in the future as a result of genetic screening for PND, which can be applied within the Russian legal system, are proposed. Conclusions. It is stated that most of the identified ethical problems are related to the lack of normative consolidation of the legal status of the fetus. It is presumed that the beginning of ethics should serve as the guide for legislation in this area. At the same time, it is emphasized that the legal regulation of genetic screening in PND should be flexible enough to optimally ensure the interests of all participants in these relationships. In addition, in this direction, it seems appropriate to refer to the experience of a number of foreign countries, whose legislation provides for fairly strict requirements in the field of PND.

The Income Tax in Great Britain and the United States.

1927 ◽  
Vol 37 (148) ◽  
pp. 637
Author(s):  
J. Sykes ◽  
Harrison B. Spaulding
Keyword(s):  
United States ◽  
Great Britain ◽  
Income Tax ◽  
The United States

scholarly journals Models of the pension system: international experience and local practice

2020 ◽  
pp. 43-51
Author(s):  
O. Cheberyako ◽  
V. Bykova
Keyword(s):  
United States ◽  
Hong Kong ◽  
Great Britain ◽  
Social Insurance ◽  
Pension System ◽  
The United States ◽  
Asian Countries ◽  
Private Pensions ◽  
Foreign Countries ◽  
National Models

The article substantiates the nature of the national models of the pension system and its structure in accordance with the concept of the Organization for Economic Co-operation and Development (OECD). The basis of the national models of pension system are two well-known models of social security: Bismarck and Beveridge Social Insurance Systems. Thus, authors prepared the comparison of this models. The features of pension system in the countries of Europe (Germany, Great Britain, Sweden, Poland), the United States and Chile are analysed. The analysis of the national models of the pension system in Asian countries identifies three institutional patterns: the statist pension system (Taiwan and China), the dualist pension system (Japan and Korea) and individualist pension system (Hong Kong and Singapore). Based on trends of development of pension provision in foreign countries, authors determine the main tasks and ways to improve the domestic system, namely, introduction mandatory funded pension system and reforming the voluntary private pensions insurance.

Taxation of Life Assurance and Annuity Business in the United Kingdom.

1961 ◽  
Vol 16 (03) ◽  
pp. 172-195
Author(s):  
C. E. Puckridge
Keyword(s):  
United Kingdom ◽  
Great Britain ◽  
Fiscal Year ◽  
Foreseeable Future ◽  
Life Assurance ◽  
The United Kingdom ◽  
Retirement Benefit ◽  
The Future

In this paper the taxation position is described as it applied in the fiscal year 1959–60. The detailed provisions of the various enactments which govern taxation in Great Britain are subject to revision from time to time and it must therefore be made clear that minor variations must be expected in the future. Major changes in the basis of taxation of retirement benefit schemes having been effected by the Finance Act 1956, it is not expected that the broad pattern will be greatly changed in the foreseeable future.

Some Notes on the Fusion of Life Assurance Funds

1966 ◽  
Vol 92 (3) ◽  
pp. 211-252
Author(s):  
J. H. Kitton ◽  
J. M. Beattie
Keyword(s):  
Great Britain ◽  
Insurance Company ◽  
Previous Knowledge ◽  
Practical Application ◽  
Technical Aspects ◽  
Ordinary Life ◽  
Life Assurance ◽  
History Of ◽  
The Law ◽  
Ultimate Control

The merger, a few years ago, of two large composite insurance company Groups brought together under one ultimate control three substantial life assurance funds each fully operative and transacting all types of ordinary life assurance and annuity business. Those three funds have now been fused together by the legal transfer of the life businesses of two of the companies in the Group to the parent company and, as this fusion seems to be the first of its kind which has been undertaken for many years, and certainly the first of such size in the life assurance history of Great Britain, it has been suggested that the operation is of sufficient interest to actuaries generally as to warrant the submission of a paper to a sessional meeting. We are, however, conscious of the fact that, whilst the operation may have added to our history as a practical application of the law and some of our principles, it has not added either to previous knowledge or to our technique. The law governing the operation has remained virtually unchanged since the comprehensive review of life company amalgamations by the late K. J. Britt in the paper he submitted to the Institute in April 1931 (J.I.A. 62, 276) and probably the whole of the technical aspects involved have been expounded by Redington in the masterful review of the principles of life office valuations which he submitted in April 1952 (J.I.A. 78, 286).

Income Tax as Affecting Life Assurance Offices

1946 ◽  
Vol 72 (1) ◽  
pp. 35-78
Author(s):  
A. H. Shrewsbury
Keyword(s):  
United Kingdom ◽  
Income Tax ◽  
Point Of View ◽  
Sickness Insurance ◽  
Life Assurance ◽  
Tax Legislation ◽  
The United Kingdom ◽  
The Subject ◽  
Insurance Business ◽  
National Defence

‘If there be one point free from obscurity in the Act of 1842 it is this, that the Legislature intended all traders, whether in groceries, annuities or other articles of commerce, to be assessed upon the same footing.’ Lord Watson in The Gresham Life Assurance Society υ. Styles.The main object is to discuss principles and therefore many points of detail will be omitted, however intrinsically interesting they may be. Satisfactory consideration of principles entails reference to all classes of business which involve an actuarial valuation (viz. life assurance and annuity business, sinking fund business and permanent sickness insurance business). Reference will be made to the National Defence Contribution and the Excess Profits Tax, which are based upon income-tax legislation. The subject in mind is the relation of such taxation to insurance business and funds of the classes mentioned, as distinct from other aspects of income tax which an insurance office encounters, and it will be considered solely from the point of view of an office established in the United Kingdom which transacts business only in the United Kingdom. In view of the paper by Messrs S. J. Rowland and F. H. Wales on ‘The Taxation of the Annuity Fund’ (March 1937, J.I.A. Vol. LXVIII), only brief reference will be made to annuity business, and it will be assumed that it is unnecessary, in describing taxation processes, to include explanations or qualifying phrases on account of annuity business.

Income-tax allowances and the family in Great Britain

1953 ◽  
Vol 6 (3) ◽  
pp. 218-232
Author(s):  
Allan M. Cartter
Keyword(s):  
Great Britain ◽  
Income Tax ◽  
The Family
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