KPMG Insurance Premium Tax Reference Point

KPMG Insurance Premium Tax Reference Point

We are very excited to announce the launch of KPMG Insurance Premium Tax Reference Point, today, Monday 3 October 2016.

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How do you get KPMG’s Insurance Premium Tax Reference Point?

We will be hosting a live WebCast event to demonstrate KPMG’s Insurance Premium Tax Reference Point on Friday 14 October 2016 at 10:00am BST. To register your interest in this event, please click here.

With tax complexity continuing to increase, there is no better time to use efficient technology solutions to reduce cost and help businesses transform their tax function into a modern, more efficient business enabler.

Our new and latest creation – KPMG Insurance Premium Tax Reference Point – is a technology innovation developed from identifying the Insurance Premium Tax (IPT) needs of insurers and in particular, the desire for low cost generic IPT rate information to enable them to comply with the myriad IPT regulations and effectively manage their business.

 

What is KPMG Insurance Premium Tax Reference Point?

  • A web based software application
  • Holds in-country IPT and parafiscal charge information required by insurers globally for 31 general classes of insurance
  • Covers over 470 jurisdictions worldwide
  • Each user can run queries against an extensive database of global IPT and parafiscal tax information to determine the correct in-country IPT rates
  • Once launched it will be maintained by the IPT team based in the UK
  • Regular half yearly refresh on the information  
  • Possibility of tailoring this off the shelf product for specific client requirements
  • This tool also includes a full featured and very expressive SQL-like API for querying data and can provide data in JSON or XML formats  

 

Why do insurers and brokers invest in getting to grips with Insurance Premium Taxes (IPT)?

  • Certainty over their insurance costs – including IPT
  • Worldwide compliance leading to complexity, including apportionment of premium based on location of the risks rules
  • IPT rates change regularly, it is apparent that fiscal authorities are seeking to increase their revenues
  • Seeking increased profitability and client satisfaction  

 

For further information please contact: 

Adrian Smith

KPMG in the UK

T: +44 (0)20 7311 2427

E: adrian.smith@kpmg.co.uk

 

David Brooker

KPMG in the UK

T: +44 (0)20 7694 1423

E: david.brooker@kpmg.co.uk

 

Shameera Rebello

KPMG in the UK

T: +44 (0)20 7694 1423

E: shameera.rebello@kpmg.co.uk

 

Jane Archard

KPMG in the UK

T: +44 (0)20 7694 3156

E: jane.archard@kpmg.co.uk

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