Denmark: Fixed rates to Guarantee Fund remained unaltered for 2024
On November 3, 2023, the Danish Guarantee Fund announced on its website the contribution fixed rates for 2024. The rates remained unaltered, implying that in
Solution: IPT
Ireland: Motor Insurers’ Bureau of Ireland changes the rules regarding its contributions
The Motor Insurers’ Bureau of Ireland (“MIBI”) published a new notification on its website on October 11, 2023. According to this notification, the Minister announced
IPT
IPT: Beyond the Surface – Insurer-Borne Taxes in Belgium, France and Ireland
Join our insightful Insurance Premium Tax webinar where Sovos’ IPT experts James Brown and Khaled Cherif delve into the lesser-known, insurer-borne taxes in Belgium, France
Denmark: Danish Guarantee Fund suspends contributions to motor insurance policies in 2024
The Danish Guarantee Fund (“DGF”) published a new notice on its website on October 2, 2023. The new guidance informs non-life insurance companies, including foreign
Bulgaria: New bank accounts at the National Revenue Agency
The Bulgarian Tax Office (“National Revenue Agency” or “NRA”) announced on its website, on September 20, 2023, that payments to the NRA should be paid
Contribution to the FGTI: New Declarations
Following the previously announced delay to the mandatory online submission and direct debit settlement of IPT in France until 2025 at the latest, the General
IPT
Choosing a New IPT Provider: Live Q&A
Are you in search of a new Insurance Premium Tax (IPT) provider? Need guidance on making a smooth transition? Join our exclusive live Q&A webinar,
Denmark: Extension of Danish Guarantee Fund to Life Insurers Writing Occupational Accident Insurance
The Act on Guarantee Fund for Non-Life Insurance Companies, executive order no. 2067, has been amended recently by Act no. 480. The main change is
Austria IPT: Tax Amendment Act 2023 approved
On 14 June 2023, the government bill Tax Amendment Act 2023 – AbgÄG 2023 was approved amending The Insurance Tax Act 1953. The amendment enables
Romanian Guarantee Fund contribution – change of rules
New regulations were recently adopted concerning the contributions to be paid to the Romanian Guarantee Fund (Fondul de Garantare a Asiguraților). Prior to this, contributions
Hungary: Additional Insurance Extra Profit Tax Amendments
The Hungarian Government has modified the government decree (No. 197/2022) regulating the imposition of extra profit taxes as part of the 2024 Bill again. The
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IPT: Location of Risk and Territoriality in the EU
Remaining IPT compliant in a changing landscape of Insurance Premium Tax is paramount for all insurers. IPT: Location of Risk and Territoriality in the EU,
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IPT: Location of Risk and Territoriality
Much of the discussion on the Location of Risk triggering a country’s entitlement to levy insurance premium tax (IPT) and parafiscal charges focuses on the
IPT
Drone Insurance: IPT Treatment and Location of Risk
Drone usage has increased significantly in recent decades, far beyond their initial use in the military. They can be expensive themselves and, equally, can also
IPT
IPT: Updates in Europe
The ever-changing Insurance Premium Tax rules and regulations can be challenging to keep up with, so staying on top of the latest developments in IPT
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Germany: The Application of IPT rather than VAT to Guarantee Commitments
Following the publication of various circulars by the Federal Ministry of Finance in Germany in 2021, rules on the taxation of guarantee commitments were made
IPT
IPT: Spotlight on Spain
Sovos’ IPT expert Hector Fernandez takes a deep dive into Spain’s Insurance Compensation Consortium (Consorcio de Compensación de Seguros, or CCS). Hector provides valuable information
IPT
German IPT: An Overview
Insurance Premium Tax in Germany is complex. From IPT rates to law changes, this quick guide will help you navigate the challenges of IPT in