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Irish Rate increase

The Minister for Finance in Ireland has announced the following changes to Stamp Duty on Insurance Premiums;

Non-life insurance policies

The current non-life insurance levy of 2% is being increased. The new rate of 3% will apply to renewals and offers of insurance issued by an insurer on or after midnight on 7 April 2009, where premiums are received by the insurer on or after 1 June 2009.

Life assurance policies

A new 1% levy will be charged on Life Assurance Policy premiums received by an insurer on or after 1 June 2009.

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