GFIA has published its response to a consultation by the Irish Department of Finance on proposed changes currently being discussed as part of the OECD/G20 base erosion and profit shifting (BEPS) Inclusive Framework.
GFIA
restated that it understands from the OECD announcement on 1 July 2021
that regulated insurance will not be within the scope of Pillar 1. It is
important for the global insurance and reinsurance industry that this
continues to be the case.
Without mitigation, the OECD
proposals would have a significant impact on the insurance and
reinsurance industry that would be significantly greater than those felt
by many other industries.
GFIA invited the Irish Department of Finance to look at its previous response
to the OECD consultation on its report on the Pillar Two blueprint, in
particular with regards to the unique nature of the insurance and
reinsurance industry.
GFIA
© GFIA - Global Federation of Insurance Associations
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article