5 Point Healthcheck
FiscalReps will conduct a thorough review of all insurance policies and programmes in line with the rules and regulations that apply to the contracts of insurance.
FiscalReps will focus on premium and premium tax allocation methodology to ensure these are adequate and provide high-level advice on:
applicable premium tax regulations
location of risk assessment
interaction with local
Based on the discovery and compliance findings, FiscalReps will prepare detailed premium tax calculations of current and up to 3 prior year insurance periods:
reconciling FiscalReps calculations with clients’ records
establishing the existence of any under or overpayments of tax
establishing the party responsible for tax settlement in each country
Based on the results of calculation, FiscalReps will work together with the client to regularise the client’s tax position in each country under review, ensuring that all legacy tax issues are cleared in full, including negotiating the settlement of any penalties or fines that may be levied by tax authorities.
5 Global Premium Tax Management
FiscalReps can develop an on-going tailored IPT compliance process for the client, ensuring that full IPT compliance continues to be achieved and that the client remains fully aware of its compliance responsibilities and has the necessary skills to discharge its obligations and to be able to demonstrate this fact to tax authorities. Using a combination of FiscalReps’ innovative Outsourcing, Technology, Consultancy and Training solutions, clients can access the level of FiscalReps expertise they require to ensure that they remain in full control of their on-going IPT compliance obligations.