Stamp Duties Consolidation Act 1999 section 124B

Certain premiums of life assurance

Section 124B imposes a 1% stamp duty levy on gross life assurance premium income received by an insurer, payable quarterly on a self-assessed statement filed electronically with Revenue.

• A 1% levy applies to the gross life assurance premiums received by an insurer in each calendar quarter.
• The assessable amount is gross premium receipts for the quarter on policies where the risk is located in the State, excluding pension business and reinsurance.
• Insurers must e-file a quarterly statement and pay the duty by 25 April, 25 July, 25 October and 25 January.
• Late filing or late payment triggers daily interest at 0.0219%, and special successor rules apply where a business changes hands mid-quarter.