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Results: 1-10 of 10

Government announces plans for tax assurance extension

  • Edwards Wildman Palmer LLP
  • -
  • Bermuda
  • -
  • January 3 2011

The Bermuda government, under the new leadership of Paula Cox, intends to adopt legislation in 2011 that will extend assurances granted to exempted companies under the Exempted Undertakings (Tax Protection) Act 1966 ("The Act"

Bermuda signs tax information exchange agreement with China

  • Edwards Wildman Palmer LLP
  • -
  • Bermuda, China
  • -
  • December 15 2010

On December 2 2010, Bermuda signed a Tax Information Exchange Agreement ("TIEA") with the People's Republic of China in an effort to strengthen the economic and political ties between the two countries

Change to a company's calculation method of policyholders' tax now permitted

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • December 15 2010

The Insurance Companies (Calculation of Profits: Policy Holders' Tax) (Amendment) Regulations 2010 (the Amendment Regulations) will come into force on 31 December 2010

EU plans for VAT exemption reforms are set to continue

  • Edwards Wildman Palmer LLP
  • -
  • European Union
  • -
  • December 3 2010

Following a meeting of the Council of the European Union on 17 November 2010, plans to reform the VAT exemption for insurance and the wider financial services industry are set to continue, with Member States agreeing to find a resolution to the current problems

Ambac and IRS come to temporary terms regarding dispute over $700 million in tax refunds

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 29 2010

As previously discussed here, Ambac Financial Group Inc. has filed for bankruptcy for Chapter 11 bankruptcy relief with United States Bankruptcy Court for the Southern District of New York

Prudential test case relating to UK dividend taxation adjourned

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • November 24 2010

Prudential Assurance Co Ltd & Ors v Revenue & Customs Commissioners 2010 EWHC 2811 (Ch) concerned the UK's former rules on the taxation of dividends received by insurance companies resident in the UK on shareholdings in foreign companies which were held as investments in their pension and life assurance business

ECJ finds against AXA in VAT dispute

  • Edwards Wildman Palmer LLP
  • -
  • European Union
  • -
  • November 12 2010

In the recent case of AXA UK (Taxation) 2010 EUECJ C-17509, the European Court of Justice (ECJ) was asked by the UK Court of Appeal whether the service of passing payments from patients to dentists was exempted from VAT

Recent surge in the lLIHTC equity market

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 1 2010

The low-income housing tax credit ("LIHTC") market has seen a surge in investments by insurance companies over the last year

Chinese drywall IRS approves tax break for Chinese drywall remediation

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 26 2010

The Internal Revenue Service recently approved a rule that would permit taxpayers with defective drywall in their houses to deduct the cost of repairs and replacement of damaged appliances

California appeals court affirms ruling that Section 28 tax does not apply to surplus lines insurers

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 7 2010

On September 30, 2010, the California Court of Appeal for the Second Appellate District affirmed a superior court ruling that California Constitution Section 28 taxes do not apply to surplus lines insurers