I-3, r. 1 - Regulation respecting the Taxation Act

Section 1174r3 Disposition versions

2012-09-01

1174R3. An insurance corporation that carries on an ocean marine insurance business in Québec and that subscribes premiums with respect to such business other than reinsurance premiums must pay, for each period of 12 months as tax on capital in respect of such business, subject to the second paragraph of section 1167 of the Act, the lesser of the tax referred to in the first paragraph of that section for that period in respect of such business, or 5% of the proportion of the profits derived for that period from the carrying on of its ocean marine insurance business in Canada, that the net premiums it subscribed in Québec is of those it subscribed in Canada during that period in respect of such business.

s. 1174R3; O.C. 3926-80, s. 43; R.R.Q., 1981, c. I-3, r. 1, s. 1174R3; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.