NU Online News Service, Oct. 13, 2:5400 p.m. EDT
WASHINGTON—Legislation designed to close a tax loophole that benefits property and casualty insurers based offshore has been reintroduced in the House and Senate.
The revised bill (H.R. 3157 and S. 1693) has been crafted to defer the deduction for reinsurance premiums paid to a foreign affiliate if the premium is not subject to U.S. tax.
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