IPT
Digitization of Reporting – Will Insurance Premium Tax Follow VAT’s Lead?
Increasingly, technology is being infused into our day to day lives to simplify and streamline activities. From home to the workplace and everything in between,
Category: IPT
IPT
Understanding Aviation Hull and Aviation Liability
In Insurance Premium Tax (IPT) compliance, the Aviation Hull and Aviation Liability policy is defined under Annex 1, Classes of Non-Life Insurance, as described in
IPT
How Insurers can Prepare for Tax Authority Audits
A tax authority audit can come in various forms, whether it be directly to the insurer itself or indirectly through a policyholder or broker. It
IPT
German IPT Law Changes and Double Taxation Implications
Insurance Tax Act reforms in Germany, effective from 10 December 2020, continue to cause uncertainty in the insurance market. The main area of concern relates
IPT
The Five Pillars of IPT Compliance
For anyone relatively new or unfamiliar with insurance premium tax (IPT), an understanding of each of the core components is key to ensuring compliance. They
IPT
Meet the Expert: Wendy Gilby – Technical Product 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
IPT
Portuguese Stamp Duty and How Reporting is Changing
The introduction of the new Portuguese Stamp Duty system has arguably been one of the most extensive changes within IPT reporting in 2021 even though
IPT
IPT Location of Risk Changes: Your Questions Answered
As our webinar explored in depth, location of risk rules are complex and constantly evolving. The Sovos compliance team covered many topics on the session,
IPT
Portugal’s Unique Fire Tax Reporting System
Treatment of fire charges is tricky in almost all jurisdictions. Fire coverage can vary from as high as 100% to 20%. No-one would dispute that
IPT
How Insurers Can Prepare for Annual Reporting Requirements
Some European tax authorities require annual insurance premium tax (IPT) reports to be submitted for the calendar year in addition to regular monthly or quarterly
IPT
Meet the Expert: Christina Wilcox, Director of Customer Success, EMEA 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
IPT
How to Navigate Marine Insurance IPT Treatment Across Europe
There are a variety of different approaches to Insurance Premium Tax (IPT) treatment for marine insurance across Europe. Before looking at how individual countries treat
IPT
IPT in Spain: An Overview
Update: 9 March 2023 by Hector Fernandez IPT in Spain is complex. Navigating the country’s requirements and ensuring compliance can feel a difficult task. Sovos
IPT
How to Avoid Errors in Fire Brigade Charge Reporting in Spain
The Spanish tax system is one of the most complex in Europe. This can bring a real challenge to insurance companies writing business in Spain
IPT
Reflection on Insurance Premium Tax Rate Increases – What’s Next for Europe?
It’s difficult to pinpoint exactly when new taxes or tax rate increases will happen. Covid-19 has impacted almost everything, including a massive deficit in the
IPT
What’s on the Horizon for Insurance Premium Tax in Europe?
Europe has seen relatively few changes to insurance premium tax (IPT) rates recently. The most notable recent change was the 33% increase in IPT rate
IPT
IPT Changes in Europe 2021: Your Questions Answered
We hosted a webinar about the IPT regulation changes in Europe with our IPT team. Topics included Spain’s IPT increase, Portugal Stamp Duty reporting and
IPT
Tax Compliance for Insurers Intensifies – the Cost of Getting it Wrong
Tax authorities have increased their focus on the insurance industry to ensure Insurance Premium Tax (IPT) and parafiscal taxes are collected correctly, accurately, and on