Combined with IPT Managed Services, we offer the first virtual end-to-end IPT compliance solution.
Sovos IPT Determination enables non-tax experts to confidently calculate and apply global IPT rates at quotation.
The solution is updated in real-time, so the tax rates and tax applicability are always accurate. And this also applies to filing requirements easing the strain of changing filing requirements and settlement deadlines.
Sovos IPT Determination is centered around a detailed, real-time global database of IPT tax data for over 80 countries, including millions of jurisdictional and product combinations – ideal for insurers writing complex global programmes.
Sovos IPT Determination builds premium allocation ahead of all policies such as renewal of international programmes. It allocates premiums per territory covered, intuitively supporting the entire underwriting process by accurately identifying, calculating, and applying the appropriate taxes at quote stage.