Federal Excise Tax Insurance

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Federal Excise Tax FET Insurance Glossary Definition

Looking for information on Federal Excise Tax FET IRMI offers the most exhaustive resource of definitions and other help to insurance professionals found anywhere. Click to go to the 1 insurance dictionary on the web.

Link: https://www.irmi.com/term/insurance-definitions/federal-excise-tax

Actived: Friday Sep 13, 2019 (2 days ago)


Internal Revenue Service - irs.gov

foreign insurance excise tax. There is a distinct difference as to the location of risk requirement between domestic and foreign insureds. However determining where the location of the risk is i.e. within or outside of the United States is sometimes less clear. Fortunately there are rulings and cases which provide guidance on some of these issues. The revenue rulings and court cases can be

Link: https://www.irs.gov/pub/irs-mssp/foreign_insurance.pdf

Actived: Thursday Aug 29, 2019 (17 days ago)


Exemption from Section 4371 Excise Tax Internal Revenue

Rev. Proc. 2003-78 2003-2 C.B. 1029 provides instructions for establishing an exemption from the section 4371 excise tax on insurance premiums paid to a foreign insurer or reinsurer when the exemption is based on the provisions of an income tax treaty to which the United States is a party.

Link: https://www.irs.gov/businesses/international-businesses/exemption-from-section-4371-excise-tax

Actived: Sunday May 12, 2019 (4 months ago)


Notice to Brokers Agents Insured and Insurers - Canada.ca

Description of Tax. Part I of the Excise Tax Act imposes a 10 tax on insurance premiums for persons resident in Canada including corporations who place insurance against risks in this country with insurers not incorporated under the laws of Canada or of any province or not formed in Canada or with any exchange having its chief place of

Link: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4634/notice-brokers-agents-insured-insurers.html

Actived: Thursday Jul 3, 2014 (5 years ago)


Excise taxes duties and levies - Canada.ca

Excise duties. Excise duties imposed on beer wine spirits tobacco products and cannabis products produced in Canada. Excise taxes. Excise taxes imposed on fuel-inefficient vehicles automobile air conditioners and certain petroleum products.

Link: https://www.canada.ca/en/services/taxes/excise-taxes-duties-and-levies.html

Actived: Tuesday Feb 5, 2019 (7 months ago)


Excise Tax Insurance Premiums - CCH

Not all types of insurance are subject to the 10 Excise Tax in that paragraph 4 2 a exempts life insurance personal accident insurance sickness insurance and insurance against marine risks. An additional exemption is available under paragraph 4 2 b for any insurance that is not in the opinion of the CRA available within Canada.

Link: http://www.cch.ca/newsletters/TaxAccounting/April2009/Article2.htm

Actived: Sunday Sep 8, 2019 (7 days ago)


Hidden insurance excise tax obligations arising from

The federal insurance excise tax is reported quarterly on Form 720 Quarterly Federal Excise Tax Return. The U.S. company may have excise tax obligations as a result of other insurance contracts such as ones that it directly placed with a foreign insurance company or other excise tax obligations for which it may have filed returns on Form 720 in the past.

Link: https://www.thetaxadviser.com/issues/2017/jul/hidden-insurance-excise-tax-corporate-chargebacks.html

Actived: Saturday Jul 1, 2017 (2 years ago)


IRS reverses position on insurance Federal Excise Tax - PwC

IRS reverses position on insurance Federal Excise Tax. Overview. The IRS released Revenue Ruling 2016-03 concluding that it will no longer apply the one-percent federal excise tax FET imposed by section 4371 3 to premiums paid on a policy of reinsurance issued by one foreign reinsurer to another foreign insurer or reinsurer.

Link: https://www.pwc.com/us/en/industries/insurance/library/irs-reverses-position-on-insurance-federal-excise-tax.html

Actived: Friday Sep 13, 2019 (2 days ago)


IRS Reversal of Cascading Foreign Insurance Excise Tax

FET liability is reported on IRS Form 720 Quarterly Federal Excise Tax Return. Liability for this excise tax is joint and several as between the

Link: https://home.kpmg/content/dam/kpmg/pdf/2016/02/tnf-wnit-fet-feb29-2016.pdf

Actived: Wednesday Sep 11, 2019 (4 days ago)



ARE THERE OTHER TAXES ON INSURANCE PREMIUMS IN CANADA In addition to the federal excise tax there are provincial taxes on unlicensed coverage.

Link: https://willis.com/Documents/Publications/Services/International/2012/Intl_Alert_-_Canada_1112_v2.pdf

Actived: Thursday Sep 12, 2019 (3 days ago)


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