Form E638 Application for Exemption From Insurance Premium Taxes Imposed Under the Excise Tax Act - Canada

Form E638 Application for Exemption From Insurance Premium Taxes Imposed Under the Excise Tax Act in Canada is used to apply for exemption from insurance premium taxes. This form is specifically for insurance companies seeking exemption from paying taxes on their insurance premiums as mandated by the Excise Tax Act in Canada.

FAQ

Q: What is Form E638?
A: Form E638 is an application for exemption from insurance premium taxes imposed under the Excise Tax Act in Canada.

Q: Who should use Form E638?
A: Individuals or organizations seeking exemption from insurance premium taxes in Canada should use Form E638.

Q: What is the purpose of applying for exemption?
A: The purpose of applying for exemption is to be eligible for a tax exemption on insurance premiums under the Excise Tax Act in Canada.

Q: What information is required on Form E638?
A: Form E638 requires information such as the applicant's name, address, business number (if applicable), details of insurance coverage, and reasons for seeking exemption.

Q: Are there any fees associated with Form E638?
A: No, there are no fees associated with submitting Form E638.

Q: How should Form E638 be submitted?
A: Form E638 should be mailed or faxed to the appropriate tax office as specified on the form.

Q: What is the timeline for processing Form E638?
A: The processing time for Form E638 varies, and it is recommended to allow several weeks for a response from the Canada Revenue Agency.

Q: What happens after submitting Form E638?
A: After submitting Form E638, the Canada Revenue Agency will review the application and notify the applicant of their decision regarding the exemption from insurance premium taxes.

Q: Is there an expiry date for the exemption?
A: Yes, any exemption granted through Form E638 is subject to review and may have an expiry date. It is important to monitor the exemption status and reapply if necessary.