Blog posts

Tax Alert - San Marino - Aviation Insurance to Be Made Exempt

Sep 04, 2015 17:26 BST Impendulo Limited We can confirm that as per the San Marino delegate decree 133, Aviation insurance in San Marino will be made exempt from insurance premium tax as of the 21st December 2015.

Tax Alert - Greece - Further Clarification on the New IPT Laws (Ongoing)

Jul 17, 2015 14:42 BST Impendulo Limited ​We have sought clarification regarding the changes to IPT exemptions in Greece under the new laws and can now provide an update on the situation.

Tax Alert Update - Greek IPT Changes to Take Immediate Effect

Jul 16, 2015 23:21 BST Impendulo Limited ​Further to recent notifications and the Greek parliament approving the controversial deal, here is the impact of the law that was passed through the Greek Parliament yesterday (L. 4334/2015, article 1, paragraph 3) iro Insurance Premium Tax. Significantly the trigger date for Law 4334/2015 is today the 16th July 2015.

Tax Alert Update - Greece - VAT on Insurance Premiums Will Not Be Levied

Jul 14, 2015 16:33 BST Impendulo Limited ​Things are moving fast in Greece as expected. The draft wording of the new laws have just been published and it looks like there was no need to be concerned as VAT on Insurance premiums will not be levied.

Tax Alert - Greece - VAT on Insurance Premium?

Jul 14, 2015 12:16 BST Impendulo Limited ​Whilst the 'Grexit' seems less likely now, the ramifications of the deal and the small print is being worked through. Impendulo understands that one of the measures currently under review or near to reaching agreement between the Greek Government and the Financial Institutions for the re-financing of the Greek Debt includes VAT becoming applicable on Insurance contracts.

Tax Rate Alert: UK - New IPT Rate Treatment Clarified

Jul 10, 2015 15:25 BST Impendulo Limited Following the budget announcement that the lower IPT rate in the UK will increase from 6% to 9.5% from November 1st 2015 - new guidance has now been published.

UPDATE: Greek Pension Fund (TEAAPAE) - Our advice is still to do nothing

May 22, 2015 13:20 BST Impendulo Limited ​This week (May 18th, 2015), in a trustworthy insurance newsletter, the TEAAPAE (Greek Pension Fund) and EAEE (Greek Insurance Companies’ Union) reached an interim settlement, that until the matter is resolved all EAEE members will pay 60% of what they paid for the same month in 2014.

UPDATE: Greek Pension Fund (TEAAPAE)

May 12, 2015 17:36 BST Impendulo Limited Impendulo's Greek office has received a letter from TEAAPAE (Greek Pension Fund) following the abolishment of the contributions as of 31/12/14. The abolishment is being contested in courts and a subsequent letter says that ‘until the case is finalized before the Courts, for all companies working on FOS in Greece we want you to pay us 20% of what you paid for the same month of the previous year’.

UPDATE: France - Motor Contribution to be Abolished from 1st Jan 2016

Feb 18, 2015 21:46 GMT Impendulo Limited Contrary to their initial proposal the French Authorities have now confirmed that the 15% Motor Contribution will be abolished as of the 1st January 2016, rather than the initially published date of 1st January 2015.

Tax Alert - Italy - Declaration Change

Jan 16, 2015 18:35 GMT Impendulo Limited Through our Contacts in Italy we can confirm that the declaration of returns will change from a monthly to an annual basis. This will be due by 31st May of the following year. All other aspects will remain the same, including monthly payments and the prepayment.