Canada Revenue Quebec Announces Increase in Insurance Premiums Tax Rate

The Canadian Revenue Quebec April 9 announced an increase, to 9.975 percent from 9 percent, in the insurance premiums tax rate, effective for insurance premiums paid after Dec. 31. The announcement includes that: 1) the increase harmonizes the rate with the QST rate; and 2) no input tax refund (ITR) can be claimed for insurance premiums tax paid. [Canada, Revenue Quebec, 04/09/26]

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