Belgium IPT

Disclaimer: This article was accurate at the time of publishing. To obtain the most up-to-date information, please get in touch with our local experts.

Find out more about IPT.

Below is a brief guide to the Belgian IPT regime.

Belgium Insurance Premium Tax Law

The law for Insurance Premium Tax is contained within Acts laid down by the Belgian Ministry of Finance.

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 must 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 required to appoint a local tax representative.

Belgium IPT Rates

Principal classes incurring Belgian IPT are:
  • Property and fire; 
  • Motor liability; 
  • Accident and health; 
  • Goods in transit; 
  • Life and pensions (individual); 
  • Life and pensions (other than individual); 
  • Aviation; and 
  • Other classes. 
Legal expenses (excluding motor), workers’ compensation, marine hull (inland, ocean and shipbuilding), credit insurance and reinsurance premiums are exempt from Belgian IPT.
There are many variations to the rates above. 
 
Belgian Parafiscal Charges

In addition to Belgian IPT, there are also a number of additional insurance levies and charges, including:
National Institute for Health & Disability (INAMI); and  Security Fund for Fire and Explosion.  There are variations to the rates charged for INAMI depending upon the insurance class and sub-class. Please contact us to learn more: 

Settlement of Belgian IPT and Parafiscal Charges

Belgian IPT is payable on an annual basis by local insurers on the last working day of the second month following the premium renewal date.  Freedom of Services insurers should pay on the last working day of the second month following the premium renewal date. 

The Insurance Parafiscal Charges and Levies are due on different bases ranging from monthly to twice yearly.

Contact us to see how TMF can simplify Belgian IPT.

For more details regarding Belgian IPT and how TMF can serve as your fiscal representative, please contact us.  TMF offers the largest independent IPT service in the EU, with 35 offices in Europe. Our UK office offers a single point of contact service for the whole region.

Find out more about IPT.