Taxes in Europe Database v2
Statutory Notice No 551 of 18 June 2012 which entered into force on 1 January 2013 and replaced stamp duty for insurances.
The non-life insurance tax replaces the stamp duty for insurances, which was considered outdated and unnecessary complicated. The most profound change, which follows from this change in legislation, is that a relatively high tax payment on the purchase of non-life insurances is replaced by an ongoing tax based premium paid.
An insurance company have to pay non-life insurance tax, if
Both conditions must be met.
The provisions imply that insurance companies, which conclude agreements on non-life insurance, have to pay non-life insurance tax.
Non - life insurance documents, which are issued in Denmark
Non - life insurance documents that involve risks placed in Denmark
Non - life insurance documents where all parties are resident in Denmark - unless no part of the premium implies payments within Denmark.
The assessment is based on the insurance premium.
Moreover, there is no subject of taxation, when the risk of the contract is located in a State governed by the Agreement on the European Economic Area (EEA).
Example: a house insurance concerning a house in Germany would not be a subject of taxation, because Germany would be the risk country.
The tax rate is 1.1 % of the insurance premium.
The fee must be paid when the insurance companies collect the insurance premiums. The insurance company then pays the non-life insurance tax.
The tax period for the non-life insurance tax is the calendar month, the tax must therefore be paid monthly on the basis of the insurance premiums collected during the tax period.
revenue appears jointly with Registration tax