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OCI and Taxation — The Unseen Impacts of Insurance Finance Income Presentation Choices
Accountants and accounting firmaccountants and auditorsAccountants and Auditors in Kingston Jamaicaaccounting firmTax FirmTax Planning ServicesTaxation Services

OCI and Taxation — The Unseen Impacts of Insurance Finance Income Presentation Choices

July 8, 2025by Dr Dawkins Brown

One of the lesser-discussed, yet highly impactful features of IFRS 17 is the option for insurers to present insurance finance income or expense either in the profit or loss (P&L) statement or in Other Comprehensive Income (OCI). While this may seem like an accounting classification choice, it carries significant tax implications in Jamaica. The TAJ...

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Onerous Contracts and Tax Adjustments — What the TAJ Will (and Won’t) Recognize
Accountants and accounting firmaccountants and auditorsAccountants and Auditors in Kingston Jamaicaaccounting firmTax FirmTax Planning ServicesTaxation Services

Onerous Contracts and Tax Adjustments — What the TAJ Will (and Won’t) Recognize

July 7, 2025by Dr Dawkins Brown

One of the most transformative features of IFRS 17 is its treatment of onerous contracts—insurance contracts that are expected to generate a net loss over their coverage period. While IFRS 17 mandates immediate recognition of losses from onerous contracts, the Tax Administration Jamaica (TAJ) has issued firm guidance stating that not all of these losses...

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Life Assurance under IFRS 17 — A New Tax Narrative for Policyholder Protection
Accountants and accounting firmaccountants and auditorsAccountants and Auditors in Kingston JamaicaAdvisory ServicesAudit and AssuranceAudit and Assurance ServicesAudit firmFinancial Strategy

Life Assurance under IFRS 17 — A New Tax Narrative for Policyholder Protection

July 7, 2025by Dr Dawkins Brown

Life assurance companies operate under long-term, complex contractual obligations that require precise actuarial forecasts and careful financial planning. With the introduction of IFRS 17, the landscape for life insurers in Jamaica has fundamentally changed—impacting not just how revenue and profits are recognized, but also how tax liabilities are calculated and reported. To support a smooth...

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Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region. We are integrated as one Regional firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services

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https://www.dawgen.global/wp-content/uploads/2023/07/Foo-WLogo.png

Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region. We are integrated as one Regional firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services

Where to find us?
https://www.dawgen.global/wp-content/uploads/2019/04/img-footer-map.png
Dawgen Social links
Taking seamless key performance indicators offline to maximise the long tail.

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© 2024 Copyright Dawgen Global. All rights reserved.