FERMA Calls For Consistent BEPS Rules For Captives

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 29, 2017

The Federation of European Risk Management Associations has released detailed guidance, aimed at supporting countries to develop consistent and appropriate base erosion and profit shifting responses with respective to captive reinsurance arrangements. Read Full Story

IRS Warns On Micro-Captive Insurance Tax Shelters

by Scott Hamilton, Tax-News.com, Washington

Wednesday, February 15, 2017

For the third consecutive year, the US Internal Revenue Service has placed abusive micro-captive insurance tax shelters on its list of top tax scams to watch out for in the 2017 filing season. Read Full Story

IRS Scopes In On Micro-Captive Tax Evasion Risk

by Scott Hamilton, Tax-News.com, Washington

Thursday, November 3, 2016

In Notice 2016-66, the US Internal Revenue Service has warned that the use of so-called "micro-captive transactions" have "a potential for tax avoidance or evasion," as it believes they may be established more to avoid federal income tax rather than for their stated aim of providing additional insurance for clients. Read Full Story

Double-Digit Growth For Hong Kong's Insurers

by Mary Swire, LawAndTax-News.com, Hong Kong

Thursday, March 17, 2016

Hong Kong's Office of the Commissioner of Insurance has announced the territory's insurance sector grew in 2015, with total gross premiums up 10.9 percent year-on-year to HKD365.8bn (USD47.2bn). Read Full Story

IRS Warns On Use Of Tax Shelters

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 17, 2016

The US Internal Revenue Service has warned taxpayers that the use of "abusive tax shelters and structures to avoid paying taxes" continues to be a major problem during the current 2016 filing season. Read Full Story

Labuan IBFC Targets Indonesian Businesses

by Mary Swire, Tax-News.com, Hong Kong

Thursday, August 6, 2015

The Labuan International Business and Financial Centre is attempting to encourage more Indonesian companies to register in the jurisdiction to take advantage of its low-tax regime and trading and investment links with key economies in the Asia-Pacific region. Read Full Story

Bermuda Promotes Captive Insurance To Canadian Industry

by Mike Godfrey, Tax-News.com, Washington

Tuesday, April 28, 2015

Bermuda is to send a 15-strong delegation to Canada to host a roadshow touting the corporate benefits of setting up a captive insurance company in Bermuda. Read Full Story

Jamaica Cancels Bank Tax Plans

by Mike Godfrey, Tax-News.com, Washington

Monday, May 5, 2014

Jamaica has withdrawn proposals to introduce a levy on deposit-taking institutions and encashments from securities dealers, and will instead balance its budget by tackling avoidance. Read Full Story

OECD Issues Latest Tax Transparency Ratings

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, April 29, 2014

The Organisation for Economic Co-operation and Development's Global Forum on Transparency and Exchange of Information for Tax Purposes has issued 12 new reports that highlight action being taken by jurisdictions to implement its international standard for the exchange of information on request. Read Full Story

Hong Kong's Captive Insurers Tax Break Approved

by Mary Swire, Tax-News.com, Hong Kong

Thursday, March 20, 2014

Hong Kong's Legislative Council has passed a Bill to amend the Inland Revenue Ordinance to give captive insurance companies, for their offshore risks insurance business, a profits tax concession of 50 percent – equivalent to that given to reinsurance companies. Read Full Story

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