Blog

Deep Dive – Insurance Premium Tax in France

France is known for its challenging Insurance Premium Tax (IPT) filing system. Understanding which tax authorities you need to register with, file with and talk to when you have questions is essential to meeting your business’s IPT compliance obligations. In this blog, we identify France’s IPT tax authorities and explain what makes IPT so different […]

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Deep Dive: Insurance Premium Tax in Belgium

The Belgian taxation landscape can be challenging for insurers if they are not well versed in the rules and requirements for ongoing compliance. Belgium ranks as one of the somewhat trickier countries to deal with in the Insurance Premium Tax (IPT) sphere with a plethora of different taxes due dependant on the class of business […]

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Easing the Pain of Settling IPT

Ensuring Insurance Premium Tax (IPT) compliance can be a complex task. With tax rates and filing varying from country to country, many organisations choose to work with Sovos to ease their IPT compliance workload and for tax peace of mind. We spoke to Neal Bazeley, supervisor of client money about Sovos’ solution for IPT compliance […]

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Meet the Expert: Rahul Lawlor, Senior Compliance Services Representative – IPT

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about new regulatory changes and the latest developments on tax regimes across the world, […]

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Insurance Premium Tax in Croatia

Croatia currently levies an Insurance Premium Tax (IPT) on insurances written under the Freedom of Services (FoS) duty. The IPT in Croatia applies only for specific classes of business, such as Motor and Fire coverage. Both taxes, Motor IPT (MIPT) and Fire Brigade Contribution (FBC), are calculated on the insurance policy premium charged to the […]

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Luxembourg Online IPT Filings – One Year On

Insurance Premium Tax (IPT) in Luxembourg moved to online filing from the first quarter 2021 submission. Alongside this, they also changed the authority deadline to the 15th of the month following the quarter. This change caused some upheaval as many insurance companies were already pulling data from the underwriting systems, reviewing the information (sometimes manually), […]

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Meet the Expert – Russell Brown, Senior IPT Consulting Manager

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to know about new regulatory changes and the latest developments on tax regimes across the world, […]

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How to Comply with Switzerland’s Stamp Duty Reporting Requirements

As Switzerland is not part of the European Economic Area (EEA), several premium tax issues need to be considered by insurers when they are providing insurance policies in this country. These considerations are around location of risk, double taxation and compliance concerning stamp duty, which is the main tax that Switzerland levies on insurance premiums. […]

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Roundup on the Digitization of IPT in the EU

The Insurance Premium Tax (IPT) sphere has typically lagged behind other taxes regarding digital filing. Until recently, there were several countries based in the European Union (EU) where paper returns still had to be physically sent to the relevant tax authority. This practice remains in some cases. However, there have been some significant developments in […]

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Five Tips for Stress-free IPT Registrations

Registering for Insurance Premium Tax (IPT) with tax authorities across Europe can be challenging and complex, particularly when multiple territories are involved. There are many elements businesses must consider when registering for IPT. What are the required supporting documents? Who can sign? Do documents need to be legalised? Is there a two-step process? These are […]

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Preparing for Greece’s Annual IPT Report

With a new month comes yet another report due in the Insurance Premium Tax (IPT) sphere. Insurance companies covering risks in Greece must report their insurance policies triggered in 2021 in the form of the Greek annual report. This is due by 31 March 2022. Let us cast our minds back, in late 2019 this […]

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Ireland’s Insurance Premium Tax Moves Online

The global tax landscape is rapidly changing. More tax jurisdictions require electronic filings, with Ireland being the latest country to follow this trend. The Irish tax authority has announced changes to how Stamp Duty, Life Levy, Government Levy and the Compensation Fund are declared and paid from the Quarter 1 2022 submission period (i.e. 25 […]

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How Insurers Can Prepare for Annual Reporting Requirements in Italy

Annual reporting requirements vary from country to country, making it complex for cross-border insurers to collect the data required to ensure compliance. Italy has many unique reporting standards and is known for its bureaucracy across the international business community. Italy’s annual reporting is different due to the level of detail required. The additional reporting in […]

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How to Navigate the Complexities of Travel Insurance Tax

Insurance is a dynamic sector in constant flux to accommodate with insured’s needs. An increase in holidays abroad following WWII saw the need for Assistance insurance for any unforeseen events that occurred away from the insured’s home country. Council Directive 84/641/EEC regulated Assistance insurance for the first time, and a new class of insurance was […]

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Meet the Expert: Khaled Cherif – Senior Client Representative – IPT at Sovos

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team is often the first to know about new regulatory changes and the latest developments on tax regimes worldwide to support […]

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Determining Location of Risk: Health Insurance

Identifying the Location of Risk in the case of health insurance can be a tricky subject, but it’s also crucial to get it right. A failure to do so could lead to under-declared tax liabilities in a particular territory and the potential for penalties to be applied once these deficits are identified and belatedly settled. […]

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IPT Compliance in Slovakia: A Primer on Error Corrections

A new year has arrived, marking an excellent opportunity to continue our blog series addressing Insurance Premium Tax (IPT) compliance in different countries. You can read other blogs in this series by visiting our Denmark, Finland, and the UK entries or by downloading Sovos’ Guide on IPT Compliance. Written by our team of IPT and […]

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Meet the Expert: Edit Buliczka, Compliance Services Manager at Sovos

Meet the Expert is our series of blogs where we share more about the team behind our innovative software and managed services. As a global organisation with indirect tax experts across all regions, our dedicated team are often the first to known about new regulatory changes, ensuring you stay compliant. We spoke to Edit Buliczka, […]

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