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
In this, the third and final episode addressing BWM, the topic of Compliance Monitoring and Enforcement of the Ballast Water Management Convention is examined with Dr Guillaume Drillet from SGS.
We have been working with over 200 members of our correspondents network to produce a comprehensive document that outlines challenges and changes for crew changes in ports.
In the second episode of the UK Club ask an expert series focusing on ballast water the topic of Type Approval US Vs IMO, old G8 Vs BWM Code – Limitations of the Type Approval is examined with Dr Li Gang from SGS.
Our Americas Members often deal with contracts of carriage subject to the US Carriage of Goods by Sea Act (“COGSA”) and the Harter Act, this article addresses some frequently asked questions.
