KPMG's first international Insurance Premium Tax survey
The intention of this survey is to gauge market interest in pursuing two main issues that have been widely discussed in relation to IPT in the EU. These issues are fiscal representation for European Union insurance companies writing Freedom of Services business cross border into another Member State and double taxation based on inequity of treatment of ‘Location of Risk’ rules by Member States.
Whilst the points being surveyed relate to EU IPT, they equally apply to international insurance companies, brokers and multi-national corporate insureds who have an interest in insurance cover associated with the EU.
The intention of undertaking the survey is to gather support and understanding from insurance companies; brokers and their customers of the unique administration burden and cost associated with premium taxes which are not found in any other business sector.