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Excise Tax Bermuda

Carlton Fields

D.C. Circuit Holds That Wholly Foreign Retrocessions Not Subject To U.S. Excise Tax

Carlton Fields on

In late May, the United States Court of Appeals for the District of Columbia Circuit affirmed a grant of summary judgment to a reinsurer in a dispute with the IRS regarding the imposition of U.S. excise taxes on a wholly...more

Locke Lord LLP

Validus Wins Round Two: Wholly-Foreign Retrocessions Not Subject to Federal Excise Tax

Locke Lord LLP on

On May 26, 2015, the United States Court of Appeals for the District of Columbia upheld a lower court decision and ruled that the IRS could not impose excise tax on certain wholly-foreign retrocessions of insurance. The...more

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