CCP Flags Double Tax Chaos in Insurance Sector

ISLAMABAD: The Competition Commission of Pakistan (CCP) has blasted the tax chaos strangling the insurance sector, warning double taxation and provincial-federal mismatches are jacking up costs and killing competition. CCP demands SECP impose ironclad oversight — especially on reinsurance — where exempt premiums still get hit multiple times by provincial sales taxes. Punjab, Sindh, KP, Balochistan — each with different rates and rules — create a tax jungle that punishes efficiency. **Life & health insurance get temporary exemptions, yet reinsurance commissions face withholding tax, sparking double-tax madness. CCP report: These anomalies block new entrants, inflate premiums, and cripple the industry. Fix: federal-provincial coordination, ruthless exemption enforcement, one clear tax regime.