Changes to the reporting of insurance-based taxes in
France are due to take effect from 1 January 2016. Our expert has a
detailed look at the implications.
The French Insurance Premium Tax (IPT) regime is known as one of
the most complicated to negotiate in Europe. Non-life insurers have
to contend with different rates dependent on the type of insurance
business written, compulsory reinsurance on certain contracts (with
further IPT considerations), per-contract fund contributions, taxes
on both insurer and insured, annual reporting and multiple tax
returns, all provided for in nuanced and complex legislation. On
top of this, they have just 15 days following the end of the
reporting month in which to prepare and submit the main IPT return
and pay their tax liability, which can be quite a challenge for a
large insurer with multi-jurisdictional tax liabilities.
