![]() ![]() The following issues will likely be key for the industry to monitor: (1) the implications of moving to a cash-flow tax system on the insurance industry (2) defining “border adjustments” for the insurance industry and (3) the implications of moving to a “territorial” tax system while also retaining Subpart F rules on insurance income. affiliates of insurers and reinsurers domiciled in no-tax or low-tax jurisdictions. Some members of Congress have considered taxing offshore reinsurance to counter what some call “income stripping” by U.S. Notably, Trump has promised to lower the business tax rate from 35 percent to 15 percent eliminate the corporate alternative minimum tax and provide a deemed repatriation of corporate profits held offshore at a one-time tax rate of 10 percent. ![]() In June, House Republicans released a reform blueprint, and during the campaign, Trump released a series of corporate tax reform proposals. Tax Reform: The new president and Congress will make overhauling the tax code a centerpiece of their legislative agenda, even though enacting comprehensive reform is notoriously challenging. ![]()
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