Saint Vincent and the Grenadines: Credit protection insurance premium payments to related reinsurer subject to withholding tax (Privy Council decision)
In addition, hire-purchase profits accrued at the time of recording in accounts.
The Judicial Committee of the Privy Council on June 11, 2026, held in Unicomer (St. Vincent) Ltd v. Appeal Commissioners and Comptroller of Inland Revenue that certain credit protection insurance (CPI) premium payments to a related reinsurer were subject to withholding tax and that hire-purchase profits accrued at the time of recording in accounts.
For more information, contact a KPMG tax professional:
Marianne Greenidge | mariannegreenidge@kpmg.bb