Comparison View

Formal Consolidation |  Amended S 143/2015
Concessionary rate of tax
4.—(1)  Subject to paragraph (2), tax is payable at the rate of 10% on the commission and fee income derived by an approved insurance broker from the provision of insurance broking or advisory services to a specified person.
(2)  However, tax is payable at the rate of 5% on the commission and fee income referred to in paragraph (1) if —
(a)the commission and fee income is derived on or after 1 April 2013; and
(b)the insurance broking or advisory services provided to the specified person relate to offshore qualifying specialised insurance risks.
[S 143/2015 wef 20/03/2015]
Informal Consolidation | Amended S 8/2019
Concessionary rate of tax
4.—(1)  Tax is payable at the rate of 10% on the commission and fee income derived by an approved insurance broker from the provision of insurance broking or advisory services to a specified person.
[S 8/2019 wef 01/04/2018]
(2)  [Deleted by S 8/2019 wef 01/04/2018]