http://www.rerisk.net/2009/03/07/ny-wishes-to-rival-london-bermuda/ Risk, Re-/Insurance and Future Thinking Mon, 14 Jun 2010 22:05:56 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.rerisk.net/2009/03/07/ny-wishes-to-rival-london-bermuda/comment-page-1/#comment-38604 Paulbdz Sun, 08 Mar 2009 23:16:17 +0000 http://www.rerisk.net/?p=504#comment-38604 <p>Dinallo does not get the tax impact. Maybe the total tax difference is 15%, I think it's more, and I don't think the 15% includes city and state taxes. Dinallo thinks that the tax difference can be made up by the different cost of doing business in NYC vs Bermuda - I don't think the costs are that difference. If they were, why are so many US companies relocating to Bermuda? For the sun? Bill Berkley has been testifying to Congress for years that unless they do something about the tax differential, Berkley Group will be forced to redomicile to Bermuda to remain competitive. Nice try, but he doesn't know the reality on the ground.</p> Dinallo does not get the tax impact. Maybe the total tax difference is 15%, I think it’s more, and I don’t think the 15% includes city and state taxes. Dinallo thinks that the tax difference can be made up by the different cost of doing business in NYC vs Bermuda – I don’t think the costs are that difference. If they were, why are so many US companies relocating to Bermuda? For the sun? Bill Berkley has been testifying to Congress for years that unless they do something about the tax differential, Berkley Group will be forced to redomicile to Bermuda to remain competitive. Nice try, but he doesn’t know the reality on the ground.

]]>