| Concessionary rate of tax and exemption for approved captive insurer |
| Concessionary rate of tax and exemption for approved captive insurer |
7.—(1) Subject to the condition in paragraph (5), the income mentioned in paragraph (3) derived by an approved captive insurer in a basis period for any year of assessment is exempt from tax, if its approval is granted on or after 1 June 2017 but before 1 April 2018.
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