Ireland Insurance Premium Tax

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.

There is no IPT regime in Ireland – Stamp Duty and the Government Levy is applied instead.

Ireland Stamp Duty Law

The Irish law for Stamp Duty is contained within the Stamp Duty Consolidations Act 1999, as amended by subsequent Acts up to and including the Finance Act 2005.

Basis of Irish Stamp Duty Calculation

The basis for Stamp Duty calculation is a flat rate per policy written.

Irish Stamp Duty 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 tax representative.

Irish Stamp Duty Rates

The principal Stamp Duty rate is €1 for all new non-life policies written.  It is not due on renewals if the risk remains unchanged from the previous policy.

Life policies are exempt from Stamp Duty.

Irish Parafiscal Charges

In addition to Irish Stamp Duty, there are also a number of additional insurance levies and charges, including:

  • Government Levy (all non-life with some exceptions)
  • Insurance Compensation Fund Levy (January 2012)
  • MIBI Levy (motor)
  • Levy to finance the regulator (all non-life)

Payments of Irish Stamp Duty/Parafiscal Charges

Irish Stamp Duty is payable on a quarterly basis within 30 days of quarter end.

The Insurance Parafiscal Charges and Levies are due on different bases.

Contact us to see how TMF can simplify Irish Stamp Duty

For more details regarding Irish Stamp Duty please contact us.  TMF also offers the largest independent IPT service in the EU, with more than 30 offices in Europe. Our UK office offers a single point of contact service for the whole region.

Find out more about IPT.