The captive industry has gained a new entrant, Alterra Risk Management, which extends simplified captive insurance solutions to small and mid-sized US firms.
David Cameron, prime minister of the United Kingdom, has made it clear to his parliament that he does not consider offshore territories like Guernsey and Jersey to be tax havens.
The US Department of the Treasury and the IRS announced that the start date of the Foreign Account Tax Compliance Act (FATCA) will be pushed back by six months, to July 2014.
Mid-size companies in light manufacturing are a perfect match for group captives as they can help them avoid premium hikes as rates in the open market harden.
The Double Taxation Agreement (DTA) between Jersey and Hong Kong, originally signed in February of last year, has been formally introduced into law.
Meeting with the UK Prime Minister, David Cameron ahead of the G8 summit, Guernsey’s chief minister, Peter Harwood has defended the domicile’s international tax credentials.
The American Council of Life Insurers has defended the value of captive insurance in the face of criticism of so-called ‘shadow insurance’ levelled at the life sector by the New York regulator.
Gary Osborne, president of USA Risk Group, told Captive International that he expects up to 50 percent of newly formed captives will select their home state over even the most established domiciles.
The Monetary Authority of Singapore (MAS) has announced its intention to “significantly” strengthen its framework for tax cooperation and ending cross-border tax offences.
Guernsey has strengthened its international tax credentials with the signing of a double taxation agreement (DTA) with Luxembourg, the eighth full DTA signed by the Island.