Malta's Commissioner for Revenue has issued a Guidance Note on the Taxation of Insurance Businesses Following the Adoption of IFRS 17 Insurance Contracts Rules. --- Guidance Note Taxation of Insurance Businesses Following the Adoption of IFRS 17 Insurance Contracts Rules Introduction In 2017, the International Financial Reporting Standard 17 (hereinafter referred to as 'IFRS 17'), titled "Insurance Contracts" was introduced, replacing its predecessor IFRS 4. This new standard is applicable to annual reporting periods starting on or after January 1, 2023. IFRS 17 establishes comprehensive principles for the recognition, measurement, presentation, and disclosure of insurance contracts within its scope. The...