OLDWICK, N.J.--(BUSINESS WIRE)--Proposed U.S. legislation aimed at preventing offshore tax avoidance by closing a tax loophole that allows offshore reinsurers to take advantage of an exception to the passive foreign investment company (PFIC) rules of the U.S. Tax Code will not lead to rating revisions over the near term, according to a new briefing from A.M. Best. The Best’s Briefing, titled, “A.M. Best Comments on Proposed U.S. Tax Changes of Offshore (Re)Insurers, states that companies would
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