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Generic Tax Name Levy on life insurance premiums (collected as a stamp duty)
Tax name in the national language Life insurance levy
Tax name in English Life insurance levy
Member State IE-Ireland
Tax in force since 2009/08/01
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

Stamp Duties Consolidation Act, 1999 as amended by later Finance Acts.

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

 
Geographical Scope

Republic of Ireland

 
Taxpayers

Insurance companies.

 
Tax object and basis of assessment

The premiums received by an insurer in respect of certain classes of life business. Premiums received in respect of certain group pension schemes are excluded from the charge. From 1 January 2010, premiums received in respect of pension and reinsurance business are excluded from the charge

 

The duty is payable on relevant premiums received by an insurer in respect of policies relating to risks located in the State. Payments are made on a quarterly basis in respect of premiums received in the preceding quarter.

 
Deductions, Allowances, Credits, Exemptions

Group pension business, pension business and reinsurance

 
Rate(s) Structure

1% of the relevant premium amount received in a quarter.

 
Tax due date

Quarterly in January, April, July and October

 
Tax collector

Duty to be submitted with a mandatory quarterly self‚ÄĎassessment return.

 
Special features

 
Economic function







Comments
 
Environmental taxes



Comments
 
Tax revenue
ESA95 code d214g

Year
Annual tax revenue (millions)
Currency
Tax revenue as % of GDP
Tax revenue as % of total tax revenue
2012 24.12 EUR 0.01
2011 32.00 EUR 0.02
2010 45.00 EUR 0.03
2009 8.70 EUR 0.01

Comments