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Taxes Consolidation Act 1997 section 594
Foreign life assurance and deferred annuities: taxation and returns
Section 594 withdraws the capital gains tax exemption on life assurance policies and deferred annuity contracts where the policy is issued by a foreign insurer or is an excluded policy issued by an IFSC life assurance company, and imposes a 40% rate of capital gains tax on the resulting gains.
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