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Obama Move Against Tax Havens Called Tougher Than Past Efforts

Written by admin on February 5th, 2010

WASHINGTON—Insurance industry representatives said President Obama’s new effort to tax insurers who cede premiums to overseas affiliates is far tougher than previous proposals aimed at low-tax offshore havens.
The Obama administration’s concept contained in the budget it released yesterday unleashed withering criticism from a spokesman for Bermuda insurers as well as …

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