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IRS Asks Court for Records From Delaware Insurance Department
... Artex was not immediately successful. The court has not scheduled a date for a hearing on the complaint. (By Timothy Darragh, associate editor, BestWeek: Timothy.Darragh@ambest.com...
Source: BestWire   Date: June 23, 2020
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US Supreme Court Will Hear Appeal on Legality of IRS Microcaptive Guidance
Act required dismissal of its lawsuit. "The APA was designed to foster expedient pre-enforcement review of questionable agency action and to require lawful agency rulemaking," the ...
Source: BestWire   Date: May 4, 2020
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Australian Trade Reps Seek Abolition of Insurance-Based Emergency Services Levy
The National Insurance Brokers Association urged Australian government officials to eliminate insurance-based taxes used to fund emergency response services - like those in ...
Source: BestWire   Date: April 29, 2020
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US House Bill Will Allow Tax-Free Distribution of Senior Life Settlement Proceeds
Bipartisan legislation in the U.S. House would eliminate federal taxes for seniors who sell their life insurance policies through life-settlement arrangements to pay for health ...
Source: BestWire   Date: March 9, 2020
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 Market Segment Report: 2020 Review & Preview: US Property/Casualty
Lower catastrophe losses and improving rate environment boost P/C financial performance.
 Data
Source: Market Segment Reports   Date: March 2, 2020
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Singapore Extends Concessionary Captive Tax Rates to 2025
Asian insurance and reinsurance center - were to expire in March. They will be extended to Dec. 31, 2025, according to budget documents presented by Deputy Prime Minister and ...
Source: BestWire   Date: February 27, 2020
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Washington Bill Would Tax Insurers for Criminal Investigations Unit
House Finance Committee, legislative records show. Insurance Commissioner Mike Kreidler last year called the new funding stream one of his main priorities for the legislative ...
Source: BestWire   Date: February 25, 2020
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Marsh Opens Tax Liability Practice in Australia and Appoints Leader
Kane Sim as head of PEMA's new tax practice. The practice, the first of its kind for Marsh in the Pacific region, has been established to meet the growing need from clients to use ...
Source: BestWire   Date: February 20, 2020
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EU Places Bermuda on International Tax Compliance Whitelist
The European Commission has removed Bermuda from a global tax compliance watch-list, saying it has fulfilled promises it made to improve the country's tax system and met all ...
Source: BestWire   Date: February 20, 2020
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EU Places Cayman Islands on International Tax Compliance Blacklist
Paolo Gentiloni in a statement. "Our citizens expect the wealthiest individuals and corporations to pay their fair share in tax and any jurisdiction that enables them to avoid ...
Source: BestWire   Date: February 18, 2020
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IRS: Crackdown on Abusive Microcaptives Successful; 80% Accept Settlement Offers
The IRS launched the settlement initiative after three consecutive U.S. Tax Court wins in cases, which sought to overturn the IRS interpretation of the 831(b) captive rules. For ...
Source: BestWire   Date: February 4, 2020
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Canadian Restaurant Association Calls for Insurance Premium Tax Relief
Luc Erjavec, Restaurants Canada's Atlantic Canada vice president. "Small food-service business operators are the backbone to the province's tourism and hospitality sector," Erjavec ...
Source: BestWire   Date: February 3, 2020
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ABI Calls on UK Government to Cut Insurance Tax as Motor Premiums Rise
Insurance Premium Tax as average motor premiums continue to increase. The average paid motor premium increased 3% in the fourth quarter to £484 (US$630), said the ABI. It ...
Source: BestWire   Date: January 30, 2020
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Suspects Plead Guilty in $1 Billion Ponzi Scheme That Bilked Berkshire Hathaway, Progressive
United States Treasury," Scott said in a statement. According to court documents, DC Solar manufactured mobile solar generator units that were mounted on trailers that were ...
Source: BestWire   Date: January 27, 2020
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Washington State Bill Would Tax P/C Insurance Policies for Wildfire Fund
A bill that would impose a tax on all property/casualty policies in Washington state to fund a wildfire prevention program is under consideration in the state house. State Rep. Joe ...
Source: BestWire   Date: January 23, 2020
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Asia Sees Growing Demand for M&A Insurance Despite Less 2019 Activity
...Pacific buyers abroad in the first half of 2019. Nevertheless, Asia-Pacific still sees growth in the demand for M&A insurance. Deal makers are increasingly concerned about risks ...
Source: BestWire   Date: September 27, 2019
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IRS Launches Crackdown on Abusive Microcaptives, Offers Settlements
Commissioner Chuck Rettig said in a statement. "We will continue to vigorously pursue these and other similar abusive transactions going forward." The companies are accused of ...
Source: BestWire   Date: September 16, 2019
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Best’s Special Report: U.S. Insurers See Varying Impacts From Tax Reform
Special Report, titled, "Varying Impact of Tax Reform on U.S. Insurers," states that the life/annuity segment's net deferred tax asset balance fell to $26.9 billion in 2018 from ...
Source: Press Releases   Date: September 5, 2019
Best’s Special Report: U.S. Insurers See Varying Impacts From Tax Reform
Special Report, titled, "Varying Impact of Tax Reform on U.S. Insurers," states that the life/annuity segment's net deferred tax asset balance fell to $26.9 billion in 2018 from ...
Source: BestWire   Date: September 5, 2019
Sumitomo Life Sees First-Quarter Loss, Acquires Short-Term Life Insurer Aiaru
June 30, according to the Japanese mutual life insurer. A year ago, Sumitomo Life said it reported net surplus of ¥9.2 billion. In this first quarter, the company posted losses ...
Source: BestWire   Date: September 3, 2019
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