Keyman insurance receipts now treated as taxable income by amendment, including bonuses, with definition referenced to existing provisions. The amendment inserts a new clause in section 28 declaring that any sum received under a Keyman insurance policy, including sums allocated by way of ... Summary
Keyman insurance receipts now treated as taxable income by amendment, including bonuses, with definition referenced to existing provisions.
The amendment inserts a new clause in section 28 declaring that any sum received under a Keyman insurance policy, including sums allocated by way of bonus, shall be covered by the section; the term Keyman insurance policy is defined by reference to the meaning assigned in the existing clause governing such policies.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
