- Belgian authorities clarify scope of insurance premium tax and VAT for insurance-related services
- IPT applies to insurance related-services benefiting from VAT exemption
- Clarifications provided by Belgian tax authorities include:
- Referring to existing VAT guidance for concepts of broker and agent
- IPT applies to services related to taxable insurance transactions
- Applicable IPT rate is same as insurance transaction
- IPT with respect to service fee due by insurance intermediary
- Deadline extension for filing IPT returns available
- Amended legal provisions effective from 8 January 2024
- IPT returns for January to August 2024 must be filed by 20 October 2024
- Insurance intermediaries and insurers should implement changes to comply by end of leniency period.
Source: dlapiper.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
