Rate
Starting 1 January 2013, the rate for insurance premium tax is 21% of the insurance premiums plus any separate fees paid for services linked to the insurance policy.
|
Period |
Rate |
|---|---|
|
From 1 January 2013 forward |
21% |
|
1 March 2011 to 1 January 2013 |
9.7% |
|
1 March 2008 tot 1 March 2011 |
7.5% |
|
1 March 1984 to 1 March 2008 |
7% |
When does the new rate apply?
The new rate of 21% applies to:
- all new insurance policies commencing on or after 1 January 2013, even where the premiums for the new insurance year were already paid in 2012
- premiums for insurance policies where the current policy commenced before 1 January 2013 and where the payment deadline for the premiums is on or after 1 January 2013
Please note!
It is possible that the government will also introduce a measure under which the 21% rate will apply to all premiums with a payment deadline in October, November or December 2012, insofar as those premiums are payable for an insured period commencing on or after 1 April 2013.
