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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.

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.