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IBC’s thoughts on tax provisions in provincial budget

Summary by canadianunderwriter.ca
iStock.com/deepblue4you Quebec will increase the tax rate on insurance premiums to harmonize it with the provincial sales tax, a move opposed by the local Insurance Bureau of Canada (IBC) chapter. In its 2025-2026 budget released last week, the Quebec government provides for an increase in the tax rate on insurance premiums from 9% to 9.975%, effective Jan. 1, 2027, to harmonize it with the Quebec Sales Tax (QST) rate. “For example, for a househ…
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canadianunderwriter.ca broke the news in on Monday, March 31, 2025.
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