India’s Reinsurance: Hidden tax or treaty? Best way to expand tax base is to redraw map of where business is done

Indian insurers transfer risk to global reinsurers, impacting tax treaties. These international agreements often prevent India from taxing reinsurance profits. Foreign reinsurers without a permanent establishment face fewer tax obligations. India aims to attract reinsurance business to GIFT City for taxation. This strategy seeks to increase domestic underwriting expertise and capital.