France: 2023 French Budget doubled the tax rate on agricultural insurance policies

Edit Buliczka
January 6, 2023

The 2023 French budget (2022-1726 of December 30, 2022) was published on 30th December 2022. Among several changes in the tax legislation, there was a change in the so-called Rural and Maritime Fishing Code.

This Code regulates the additional contribution on premium amounts that relates to insurance agreements on agricultural operations covering

  1. Damage to buildings and dead livestock
  2. Risks of civil liability and damage relating to commercial vehicles

The rate rose from 5.5% to 11% as of 1st January 2023. The previous rate was unchanged since 2016.  The contribution is declared on the Insurance Premium Tax return under section E, as such the declaration form for 2023 was amended accordingly.

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Author

Edit Buliczka

Edit is a senior regulatory counsel. She joined Sovos in January 2016 and has extensive IPT knowledge and experience. Her role ensures the IPT teams and systems at Sovos are always updated with legislative changes. She is a Hungarian registered tax expert and chartered accountant and has worked for companies in Hungary including Deloitte and KPMG and as an indirect tax manager she worked for AIG in Budapest. She graduated with an economist degree from Budapest Business School, faculty of finance and accountancy and also she has a postgraduate diploma from ELTE Legal University in Budapest.
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