To cover any risks situated in France, insurance companies not established in France must comply with French IPT regulations (art.991 to 1004 of the French Tax Code) i.e. get registered with the French Tax office (“DGI”) before signing any insurance contract in France and officially appoint a fiscal representative who will be responsible on their behalf for the payment of the French insurance premium tax.
All fiscal representative must be accredited by local tax authorities.
As an accredited organization, its will : - take care of the registration of the insurance company with the "Service des Opérations Fiscales et Foncières" - determine the tax rates applicable (7 to 30% depending on the type of risk) - prepare and submit the IPT returns - keep the required books showing all premiae received and paid and insurance contracts signed by the foreign insurance company - take care of all correspondences with the Tax Office and tax audit operations
On a regular basis, the foreign insurance company must :
1) provide a monthly detailed statement of the premiums, with the French premium tax due (and the rates according to the types of risks)
2) send the corresponding funds
Inter Trade Service has been acting as French fiscal representative for world-class companies since 1991. Our team stays up-to-date with the relevant regulations, and maintains daily work relationship with local authorities.
For those services, Inter Trade Service charges a fee which is volume-based and the contract is cancellable upon a 3-month notice by both parties.
