11.0518 Paragraph(e) added to Section 1442.

Cite as [A.S.C.A. 11.0518]

Section 1442 relating to the withholding of tax on foreign corporations is amended by adding after paragraph (d) the following new paragraph:

“(e) Reinsurance Premiums—In the case of premiums derived by foreign corporations from reinsurances in respect of insurance business transacted in American Samoa there shall be deducted and withheld at source a tax equal to 10% thereof.”

History: 1979, PL 16-38 § 1.