Foreign Insurers Win At D.C. Circuit On Excise Taxes
In a win for foreign insurance companies, the United States Court of Appeals for the D.C. Circuit held that the I.R.C. § 4371 excise tax on foreign insurers does not apply to wholly foreign retrocessions. The taxpayer, Validus Reinsurance, Ltd., a foreign corporation organized under the laws of Bermuda, sold reinsurance to […]

Vía Forbes Real Time