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Results: 1-10 of 19

Obama proposes budget that would end foreign reinsurer tax advantages
  • Locke Lord LLP
  • USA
  • February 3 2010

President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company


European ruling on VAT goes against reinsurers
  • Locke Lord LLP
  • European Union
  • November 12 2009

The European Court of Justice (ECJ) has recently released its judgment in the case of Swiss Re Germany Holding GmbH v Finanzamt München für Körperschaften, confirming that a transfer of a portfolio of life reinsurance contracts, outside of a business transfer, will be subject to value-added tax (VAT) at the standard rate


Chaucer latest Lloyd's entity to consider new domicile
  • Locke Lord LLP
  • United Kingdom
  • January 26 2010

In an interview with Bloomberg, Chaucer's chief executive officer Bob Stuchbery has indicated that Chaucer will consider redomiciliation out of the UK this year, noting that he would much prefer that Chaucer remained in the UK under a more competitive corporation tax environment


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


Alastair Darling's Budget proposes tax break for asbestos trusts
  • Locke Lord LLP
  • United Kingdom
  • March 30 2010

Alastair Darling's 2010 Budget includes provisions designed to help asbestos trusts which were set up by companies prior to 24 March 2010 to meet their asbestos liabilities


Court of Appeal rules on VAT exemption for insurance intermediaries
  • Locke Lord LLP
  • United Kingdom
  • May 28 2010

The Court of Appeal handed down its judgment in Commissioners for Her Majesty's Revenue and Customs v Insurancewide


New York Insurance Department considering requesting lower federal tax rate
  • Locke Lord LLP
  • USA
  • March 8 2010

According to media reports, New York Insurance Department (the “Department”) Superintendent James Wrynn announced at a membership meeting of the Association of Insurance & Reinsurance Run-Off Companies (AIRROC) that the Department’s tax working group is reviewing whether a revived New York Insurance Exchange (the “Exchange”) should request a lower federal corporate tax rate


In private letter ruling, IRS says captive reinsurance of fronted pools is “insurance” for tax purposes
  • Locke Lord LLP
  • USA
  • January 4 2010

The Internal Revenue Service (IRS) issued a private letter ruling on December 11, 2009, resolving a taxpayer’s question as to whether its business as a captive reinsurer is "insurance" for tax purposes


EU plans for VAT exemption reforms are set to continue
  • Locke Lord 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


Incoming regulations may increase actuarial costs
  • Locke Lord LLP
  • United Kingdom
  • September 2 2009

On 1 September 2009, the General Insurers' Technical Provisions (Appropriate Amount) (Tax) Regulations 2009 (the Regulation) comes into force in the UK