Insurers — Don’t Miss GST Deadline for Reinsurance

Insurers — Don’t Miss GST Deadline for Reinsurance

Insurers only have a short time to recover GST/HST paid related to cross-border reinsurance with affiliates.


Related content

Under changes to the GST/HST self-assessment rules for certain cross-border charges from related parties, the “margin for risk transfer” and “ceding commissions” related to imported reinsurance services, are no longer part of “loading” and “qualifying consideration” for GST/HST purposes. Financial institutions are no longer required to self-assess on these two specific components of imported reinsurance services. Qualifying taxpayers can request in writing that the CRA reassess previously self-assessed GST/HST. The request must be made before June 22, 2017.

Download this edition of the TaxNewsFlash to learn more.

© 2017 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.