Regulatory update

March IPT Update 2015: TMF Group IPT update

09 March 2015

Welcome to TMF Group’s regular insurance premium tax update from its offices around the world. It’s another reasonably quiet month.


IPT on motor policies in Cuneo has increased from 15.5% to 16% as of 3rd Feb 2015.
IPT on motor policies in Vicenza has increased from 12.5% to 16% as of 17th Feb 2015.

Something that is in the pipeline for next year: taking effect from 1st Jan 2016 IPT on contracts covering compulsory motor liability insurance related to land motor vehicles with a weight over 3.5 tonnes and vehicles used for agricultural activities will be charged at 15%. Contracts covering compulsory motor liability insurance related to other land motor vehicles will be charged at 33%.

As the first quarter of 2015 draws to a close, just a reminder that the Bulgarian reporting period changed from monthly to quarterly at the beginning of the year. The deadline for the return and associated payment is the end of the month following each quarter, so Q1 is due by 30th April 2015.

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