  We investigate the Levy insurance risk model with tax under Cram\'er's
condition. A direct analogue of Cram\'er's estimate for the probability of ruin
in this model is obtained, together with the asymptotic distribution,
conditional on ruin occurring, of several variables of interest related to ruin
including the surplus immediately prior to ruin (undershoot) and shortfall at
ruin (overshoot). We also compute the present value of all tax paid conditional
on ruin occurring. The proof involves first transferring results from the model
with no tax to the reflected process, and from there to the model with tax. In
doing so we also derive new results for the reflected process.
