Exemptions - IUA publishes FET list
The International Underwriting Association (IUA) has published an online list of the London company ...
The International Underwriting Association (IUA) has published an online list of the London company market (re)insurers which have proved they are exempt from federal excise tax (FET).
Foreign companies that wish to write risks in the US have to pay FET, unless their home country has signed an exemption treaty with the US government.
A new US/UK tax treaty covering this came into effect at the start of 2004.
UK registered (re)insurance companies doing business in the US have to prove their exemption from FET, either by entering into a closing agreement with the internal revenue service or by deferring implementation of the new provisions for a year.
A spokesman for the IUA said that publication of the list should help to remove any potential confusion. The list can be accessed at www.iua.co.uk.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Climate Change
Zurich's UK Chief Investment Officer, David Thompson says: "Climate change is one of the most pressing issues of our time, and we're using our influence as a major global investor to help tackle the crisis." pic.twitter.com/jtyRzoekPc
— Zurich Insurance UK (@ZurichInsUK) July 20, 2021
Most read
- Best Insurance Employer shortlists revealed ahead of 2021 British Insurance Awards
- Hand sanitiser slips and stress claims warning as leisure and hospitality reopens
- WTW sells Irish arm to GRP; motor premiums hit five year low; Questgates acquires two firms and LV tops new customer experience report
- DLG to take Motability deal and 550 staff from RSA
- James Reader steps down as Covéa CEO
- Pen's Nick Wright on the future of sales and marketing
- Beazley touts cyber claims frequency reductions as it returns to profit