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Many tax authorities are increasing their focus on the insurance industry in an effort to close tax revenue gaps, with many introducing Insurance Premium Tax (IPT) and other indirect taxes for insurance. Globally, IPT is fragmented across over 200+ countries and achieving compliance can be a complex process requiring specialist knowledge.

Keeping up to date with the latest rates, rules, and regulation of Insurance Premium Tax (IPT) is a challenge for insurers. Not to mention this is especially complex for insurers writing across multiple territories.

At Sovos, we are IPT compliance specialists and we solve tax for good. Insurance Premium Tax is one of our specialisms, and we know it well.

In the Gartner 2021 CIO Agenda: A U.S. Perspective, “respondents in the U.S. report digital business acceleration in the face of COVID-19 and an increased opportunity for business redesign. Despite being global pace setters, U.S. CIOs have a lot of opportunity to leverage digital innovations for value creation.”

Spain is one of the most complex countries within Europe for insurance premium tax compliance. The complexities and challenging means of reporting liabilities only adds to the difficulties for insurers writing policies in the country.

Download this eBook to learn why a robust calculation and apportionment procedure is key to compliance.

IDG interviews Sovos VP of Strategy, Cristiaan van der Valk, about why tighter alignment between Tax & IT makes sense.

Better conversations reduce risk, uncover opportunities and solve problems.

For those tax teams new to insurance premium tax (IPT), this e-book provides a useful guide on the principles and foundations required for compliance.

Turn continuous tax compliance to your advantage with the first complete solution for modern tax.