জীবন বিমা ব্যবসার মুনাফা ও লাভ গণনা

Except for pension and annuity businesses, the profits and gains of the life insurance business shall be calculated as follows:

The greater of A or B, where:

A = X - Y, where:

• X = Total external receipts for the relevant income year;
• Y = All allowable management expenses for the relevant income year, which shall not exceed the amount calculated using the formula T + U + V + W, where:
  • T = 7.5% of the premium received in the relevant income year for single premium life insurance policies;
  • U = 7.5% of the first year's premium or the premium received in the relevant income year for any life insurance policy where the number of annual premiums in the first year is less than 12, or for life insurance policies where annual premiums are payable for a period less than 12 years;
  • V = 90% of the first year's premium in the relevant income year for all other life insurance policies;
  • W = 12% of all renewal premiums received in the relevant income year.

B = (P - Q + R + S) ÷ N, where:

• P = The applicable figure among the following three options:

  • (i) Surplus or deficit determined from actuarial valuation for the assessment year for which tax is being determined;
  • (ii) Where it is not possible to determine the surplus or deficit as per option (i), the surplus or deficit from actuarial valuation for the year immediately preceding the relevant assessment year; or
  • (iii) Where it is not possible to determine the surplus or deficit as per option (i) or (ii), the surplus or deficit from actuarial valuation for the last inter-valuation period;

• Q = Brought forward surplus or deficit included in the actuarial valuation for the assessment year;

• R = Any interim or terminal bonus paid during the period, regardless of type, from the surplus or deficit;

• S = The sum of all disallowable deductions under sections 49-55 during the period from the surplus or deficit;

• N = 1, or, where the inter-valuation period covers more than one year and P is calculated based on it, the sum of the years within the inter-valuation period.