IRS Closing Agreement

The UK Club has entered into a closing agreement with the United States Internal Revenue Service (IRS). This closing agreement secures exemption for the Club from Section 4371 Excise Tax, which applies to 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. The UK Club is now listed on the IRS website as a party to a closing agreement with the IRS.

For more information on the IRS closing agreement, please see the IRS website

http://www.irs.gov/Businesses/International-Businesses/Exemption-from-Section-4371-Excise-Tax

Staff Author

UK P&I

Date19/09/2013

Tags

You may also be interested in:

This circular highlights the requirement for Members to provide voyage attestations an an alert from the Price Cap Coalition. 

As with all diseases, risk factors can be increased due to certain factors, and this articles highlights some of the risks, symptoms and treatment options for testicular cancer.

Malaria is a life-threatening disease spread to humans by some types of mosquitoes mostly found in tropical countries

In this article, the Club provides an overview of the emerging technology of shipboard carbon capture highlighting pros and cons where appropriate.