The Austrian Tax Office recently released a new report form (Form6) for settlement of Insurance Premium Tax (IPT). This new template complies with both changes in the IPT regulation of last July and the Decree of the Ministry of Finance issued in December 2023.
In summary, the modification to Section 7 of the IPT law allows third-country domiciled insurance companies to register and settle Insurance Premium Tax (IPT) liabilities directly with the Austrian Tax Office. If the third-country domiciled insurers do not take this option, then their policyholders must settle the IPT as long as the insurance firm informs:
- the policyholders about their obligations
- the Austrian Tax Office using Form 6.
If the insurer fails to meet its information responsibilities, it will be responsible for the insurance tax.
