Simplify the complexity of insurance premium tax with our suite of IPT products, services and technology solutions

TMF Group was the world’s first – and is now the largest – independent provider of fiscal representative and agency services. Through our 125 offices around the world, we provide IPT specialist support across Europe, the US, Australia and Singapore, coordinated by our global IPT centre of excellence.

We offer a tailored onboarding process that begins with an audit of your existing structure and pending tax authority deadlines to support an efficient transition to TMF Group. In addition, we conduct a thorough review of your insurance products for accurate mapping to our global rates database, IPT Quote, and for accurate and compliant reporting.

Our dedicated client teams within our IPT centre of excellence act as your single point of contact to solve cross-border challenges, delivering consistent and efficiently coordinated compliance services.

The tailored, captive-specific version of our software tool, IPT Quote, supports the identification and application of your captive’s insurance products against the global tax rates database.

IPT Quote Captive models the tax implications of complex programme structures across multiple territories. It creates IPT cost estimates at the quotation stage and facilitates accurate and compliant invoicing. A central, specialist and dedicated account team works alongside our local offices to ensure timely and compliant tax return submissions in every jurisdiction.

IPT Quote Captive’s global rate tables provide a view of business in local markets, helping captives make informed decisions around programme structure and local policy requirements.

Our IPT practitioners have the knowledge, industry experience and global reach to provide bespoke support on all aspects of IPT compliance.

Our consultancy team provides tax information and support for all aspects of IPT compliance, such as reviewing insurers’ IPT processes and data collation for reporting requirements and identifying tax rates applicable to specific insurance products, including policy wording reviews and provision of rate tables.

We can provide assistance with the details of tax legislation, including, but not limited to, location of risk, tax points, coinsurance rules and taxable bases. We can obtain binding rulings of tax authorities on specific issues and take on ad-hoc projects or assignments.  

With global tax restrictions tightening, changes to existing tax regimes range from rate changes to increased reporting requirements. Keeping abreast of local regulations and practices will help protect your position as an insurer and minimise risk to your company’s margins or reputation.

Our training courses provide attendees with practical insights into relevant indirect taxation matters, refreshing and adding to existing technical knowledge.

As a professional services firm and leading expert in the field of IPT, we have developed valuable expertise and a detailed understanding of IPT legislation and processes, allowing us to maintain strong relationships with local tax authorities, effectively monitor tax changes and share expert knowledge with our clients.  

For many years, we have been bringing together major industry players to discuss international IPT challenges facing the insurance market. This steering committee has helped create the road map for the ongoing development and refinement of our proprietary software tool, IPT Quote, as well as addressing key topical IPT challenges and updates with the market.

The committee has been involved in implementing key system developments, including the treatment and application of co-insurance and vertical placements, dual stamp function, financial interest clauses, policy type calculations and core data capture functionality.

All TMF Group IPT clients are automatically granted committee membership. Quarterly meetings are held in London, with annual events in Brighton and Frankfurt that attract senior tax figures from the insurance industry across the UK and Europe.

With the worldwide shift towards indirect taxation, countries are continuously updating their IPT rates. This country-by-country breakdown provides a guide to IPT rates around the world.

Insurance premium tax is constantly changing, with many countries either recently introducing or increasing their IPT rates. Keeping up to date with the latest changes is crucial in navigating the complexity of doing business across borders.

This page provides the latest updates to IPT rates in the countries where you operate.