Greek Insurance Premium Tax and Stamp Duty

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Greece IPT

Below is a brief guide to the Greek IPT regime.

Basis of Greek IPT Calculation

The basis for the IPT calculation is the total amount of the premium payable by the insured excluding parafiscal charges. The tax should be shown in addition to the premium.

Greek 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.

Greece IPT Rates

Most of classes of insurance are taxed at the default rate of 15%. Fire insurance attracts the higher rate of 20%.

Exemptions apply to life policies for contracts of more than 10 years, marine and aviation and reinsurance.

Greek Parafiscal Charges

In addition to IPT in Greece, there are additional insurance levies and charges, including:

Private Life Insurance Guarantee Fund

Motor Insurance Bureau Levy

Auxiliary Motor Guarantee Fund

Insurance Employees’ Pension Fund (TEA EAPAE)

Settlement of Greek IPT and Parafiscal Charges

Greek IPT is payable on a quarterly basis within 90 days of quarter end.

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

Find out more about IPT.