Insurance premium tax

The Insurance Contracts Tax Act introduces an obligation of charging and paying the insurance contracts tax in the territory of the Republic of Slovenia. The insurance contracts tax is paid from concluded insurance contracts. The entity liable for this tax is an insurance company or other legal entity, which concludes insurance contracts in the territory of the Republic of Slovenia.

The base for the charging of the tax is a premium or contribution, which is paid on the basis of a concluded insurance contract. The tax is paid at the rate of 8.5 percent from the tax base.

The higher tax rate of 8.5 percent is applied from January 1 2015 onwards and is levied on insurance premiums for insurance business conducted from the tax period January 2015 onwards. The tax rate of 6.5 % is levied on the premiums paid for the insurance business, which have been concluded up to and including the month of December 2014.

The person liable for the insurance contracts tax prepares a monthly settlement of the tax and submits it to tax authorities in 15 days after the end of the month, for which the settlement has been prepared. The charged tax shall be paid in 15 days after the end of the month, for which the settlement has been prepared.