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Generic Tax Name Insurance tax
Tax name in the national language Taxes sur les contrats d assurance / Taks op de verzekeringscontracten
Tax name in English Taxes on insurance contracts
Member State BE-Belgium
Tax in force since 2007/01/01
If abolished, date on which the tax ceases to apply
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Code of miscellaneous duties and taxes and the decrees issued for its implementation.

 

You can also refer to the general file relating to ‘Miscellaneous Duties and Taxes' for more information on the other taxes regulated by the same Code.

 

The official name of the tax in Belgium is “taxe sur les opérations d'assurance / taks op de verzekeringsverrichtingen”.

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

OTHER BENEFICIARIES

1. “CAISSE NATIONALE DES CALAMITES” (National Fund for Disasters)

A twelfth of the amount fixed on an annual basis will be monthly granted to the ‘National Fund for Disasters'. This twelfth is paid at the latest the 20th of the month in which the revenue relating to the annual tax on insurance contracts is received (Law of 27.12.2006, BOJ 28.12.2006).

2. Part of the revenue collected is transferred to the National Office of Social Security.

 
Geographical Scope

Belgian territory.

 
Taxpayers

The annual tax on insurance contracts is paid:

 

1. by companies, funds, associations, insurance undertakings, pension institutions, institutions for occupational retirement provision and by any other insurance undertakings;

2. by brokers or any other intermediaries who are resident in Belgium, for the contracts undertaken through them with insurers not established in Belgium, and by insurance undertakings not established in Belgium performing insurance operations for which the risk is located in Belgium;

3. by the policyholders in all other cases.

 
Tax object and basis of assessment

This tax is levied on insurance contracts when the risk is located in Belgium.

 

The risk of the insurance transaction is located in Belgium when one of the following conditions is fulfilled:

  • the policyholder has his habitual residence in Belgium;
  • if the policyholder is a legal person: the contract relates to the establishment of the legal person situated in Belgium;
  • the contract relates to immovable or certain movable property situated in Belgium;
  • the contract relates to vehicles of any type registered in Belgium;
  • the insurance policy relating to the risks incurred when travelling or being on holiday, is issued in Belgium for maximum four months.

 

 

The tax base is the amount of the premiums, employers' and employees' contributions, plus the charges, to be paid in the course of the tax year either by the policyholder or by the affiliated members and their employers.

 
Deductions, Allowances, Credits, Exemptions

Various contracts are exempt from this tax, notably credit insurance contracts against commercial risks and/or country risks, contracts for reinsurance, certain insurances in the context of social security, certain healthcare insurances offering a high level of protection, insurances against risks incurred abroad, insurances in the context of pension savings schemes, insurances in the context of the supplementary pension for the self-employed, the conversion of a life insurance payment into an annuity, hull insurances for sea-going vessels, inland vessels and certain aeroplanes, all other insurance policies related to seagoing and inland navigation (except those subject to the 1.40% charge), compulsory liability insurance policies related to motor vehicles and property damage insurance policies related to motor vehicles or compound vehicles used exclusively for the transportation of goods by road and having a maximum allowable mass of not less than 12 tons, some legal expenses insurance contracts, etc.

 
Rate(s) Structure

There are four rates:

-9.25%: normal rate;

-4.40%: rate i.a. for life insurances (not taken out individually), death insurance, life annuities and temporary annuities, certain collective additional undertakings for disability and liabilities contracted by pension funds (provided every employee has an “equal right” to be in the scheme);

-2.00%:  rate for life insurance transactions, even in respect of investment funds, and life annuities built up by natural persons, exept if the 1.10%-rate applies;

-1.40%: rate for insurance policies related to seagoing and inland navigation, related to the risk of transportation of goods by air or overland, related to liability insurance policies for motor vehicles and to property damage insurance policies in respect of taxis, buses, coaches and vehicles intended for the transportation of goods where the maximum allowable mass exceeds 3.5 tons but is less than 12 tons;

-1.10%: rate for transactions related to death insurances with decreasing capital, used for securing a mortgage loan raised to acquire or maintain real estate, where taken out by natural persons (the so called "outstanding balance insurances") and for insurances fulfiling the criteria and conditions specified in the law of 26 December 2013 relating to various provisions as regards thematic citizens lending.

 
Tax due date

Depending on the cases, the tax is to be paid by 1° the insurance company, the pension institution, etc., 2° agents and other intermediaries residing in Belgium for insurance contracts subscribed with insurers not established in Belgium and carrying out insurance transactions for which the risk is located in Belgium, and insurance companies that are not established in Belgium, have no representative in Belgium and carry out insurance operations for which the risk is located in Belgium, without hiring intermediaries residing in Belgium, or 3° policyholders themselves.

In the first two cases, the tax is to be paid at the latest the 20th day of the month following the month during which the premium or the contribution fell due. 

A deposit is to be paid on 15 December at the latest on the tax due in January of the following year. The amount of the deposit is based on the amount due the previous November. In the third case, the tax is to be paid within the three months as from the due date of the premium.

 
Tax collector

Federal Public Service Finance.

 
Special features

Before 01.01.2007, the taxes on insurance contracts were part of the taxes assimilated to stamp duties.

At the end of 2006, the stamp duties were abolished and the miscellaneous duties were introduced.

 
Economic function







Comments
 
Environmental taxes



Comments
 
Tax revenue
ESA95 code d214ga

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 1,236.60 EUR 0.32
2011 1,167.20 EUR 0.31
2010 1,224.60 EUR 0.34
2009 1,128.00 EUR 0.32
2008 1,102.10 EUR 0.31
2007 1,097.00 EUR 0.32
2006 997.90 EUR 0.30
2005 826.20 EUR 0.27
2004 804.00 EUR 0.27
2003 779.20 EUR 0.28
2002 722.60 EUR 0.26
2001 665.80 EUR 0.25
2000 650.40 EUR 0.25

Comments