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Tax by Industry: Insurance


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Spurred by a saturated domestic market, insurance companies are seeking new strategies for growth, including exploring global markets, developing new products and distribution channels, and streamlining operations to contain costs. But new strategies bring new rules — on top of the already heavy regulatory scrutiny under which the industry operates.

What do all these performance pressures have in common? Tax implications. On one hand, firms that grow internationally need to manage compliance complexity, including reporting foreign earnings and profit, calculating transfer prices for internal services and reinsurance, and finding appropriate ways to leverage favorable tax jurisdictions. On the other, tax savings opportunities exist if you know where to look, such as tapping global research and development incentives for tax savings associated with investments in new products and technologies.

Staying compliant and competitive means having efficient, effective tax solutions. With a multifaceted team of insurance industry specialists, Deloitte Tax can help.

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Featured Insights

Rent-A-Center, Inc. v. Commissioner
Tax Court ruling determines that captive is an insurance company for tax purposes.

 

Excise Tax Inapplicable to Foreign-to-Foreign Retrocessions
On February 5, 2014, the United States District Court for the District of Columbia held as a matter of law that the Federal Excise Tax on insurance transactions does not apply to retrocessions.

 

Insurance industry impact —Senator Baucus’ discussion draft on changes to international tax rules
This article discusses some of the key provisions of the Baucus staff discussion draft, particularly affecting U.S.-based multinationals, with specific emphasis on the insurance industry.

 

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