Federal excise taxes (FET) imposed on insurance and reinsurance purchased from foreign insurers and reinsurers will be applied each time the risk is ceded, US tax authority the Internal Revenue Service (IRS) ruled last week.
Federal excise taxes (FET) imposed on insurance and reinsurance purchased from foreign insurers and reinsurers will be applied each time the risk is ceded, US tax authority the Internal Revenue Service (IRS) ruled last week.