Belgium IPT

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Belgium IPT

Below is a brief guide to the Belgian IPT regime.

Basis of Belgian IPT Calculation

The basis for the IPT calculation is the total amount of the premium payable by the insured, which includes commission and collection charges. The tax should be shown in addition to the premium.

Belgian IPT Liability

The insurer is liable for the tax calculation and payment. EEA insurers operating on the Freedom of Services basis are not required to appoint a local fiscal representative.

Belgium IPT Rates

Most of Insurance premiums are taxed at the default rate of 9.25%. However, some specific risks are taxed with lower rates:

  • Some Motor policies, Cargo/Goods in Transit: 1.4%
  • Some Accident/Health policies: 4.4%

Accident at work, commercial marine and aviation, trade credit and reinsurance premiums should be exempt from Belgian IPT.

Belgian Parafiscal Charges

In addition to Belgian IPT, there are also a number of additional insurance levies and charges that may be due:

  • National Institute for Health & Disability (INAMI): Rates depend on the risk covered
  • Security Fund for Fire and Explosion (SEC): 3%

Settlement of Belgian IPT and Parafiscal Charges

Both Belgian IPT and most parafiscal charges are payable on a monthly basis on the 20th day following the reporting period. It should be possible for insurers to file some INAMI contributions on a quarterly or semestrial basis, while SEC should be filed on an annual basis.

Find out more about IPT.