IPT Update – September 2014
Regulatory update 1 minute read

IPT Update – September 2014

01 September 2014

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VAT implementation is delayed until 1st January 2015


Flood Damage Levy has been increased from 1st July 2014 for all property and fire policies


Motor IPT rate is increased in the province Viterbo from  1st October 2014


Withholding tax is introduced on all types of insurance


Government implements plan to remove VAT exemption from all insurance policies except for health and life from 1st July 2014


VAT reductions have been implemented from 1st August 2014 for most non-life insurance policies for policyholders that are not VAT registered and make a one-off payment using electronic means to settle the premium

USA – Delaware

Tax rates for surplus lines and self procurement policies are increased from 31st July 2014

USA – Florida

Florida Hurricane Catastrophe Fund is abolished from 1st January 2015.

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