Uk/usa Double Taxation Convention-Federal Excise Tax

EDM number 440 in 1992-93, proposed by John Greenway on 07/07/1992.

That this House notes that Article 7(6A) of the UK/US Double Taxation Convention reads `that the United States tax on insurance premiums paid to foreign insurers shall not be imposed on insurance or reinsurance premiums which are the receipts of a business of insurance carried on by an enterprise of the United Kingdom whether or not that business is carried on through a permanent establishment in the United States'; further notes that a number of legislative proposals have been made in the United States which would override this exemption or substantially reduce its value; and calls on Her Majesty's Government to make the strongest representations to the United States Administration over this breach of a freely negotiated agreement and to take all possible measures to ensure the preservation of this exemption which is of benefit both to the United Kingdom insurance industry and to the United States consumer.

This motion has been signed by a total of 17 MPs.