On 1st of October 2024, the Irish Motor Insurance Bureau (MIBI) announced that in 2025 the contributions payable by the insurance companies to the Motor Insurers’ Insolvency Fund (MIICF) will end from 1st January 2025. The reason for this statement, published on their website, is that MIBI’s expects the value of the fund to exceed the EUR 200 million threshold by June 2025, which is the point when the fund should stop collecting funds as per the Insurance Act of 1964.
Ireland: Contributions to Motor Insurers Insolvency Compensation Fund (MIICF) Ends From 2025
Edit Buliczka
October 7, 2024
Sign up for Email Updates
Stay up to date with the latest tax and compliance updates that may impact your business.
Author
Edit Buliczka
Edit Buliczka is a Regulatory General Counsel at Sovos EMEA specializing in Insurance Premium Tax. A Hungarian registered tax expert and chartered accountant with a background at Deloitte, KPMG, and AIG, she has been with Sovos since 2016, tracking IPT legislative changes across Europe.
Share This Post