6 October 2014

FiscalReps has recently met the French tax authorities to ensure clients' compliance in France remains world class. FiscalReps files IPT and parafiscal taxes in 8 tax offices in France. The feedback from each of the tax offices visited was very positive; our monthly compliance process is smooth, clear and on time. As a result, FiscalReps is seen as a reliable partner and its leading position on the French market is reinforced. One figure reflects this status; of the 126 insurance entities authorised to write classes of business subject to the terrorism contribution, 70% are filing using FiscalReps’ services.
The Fonds de Garantie, the organisation responsible for collecting the terrorism contribution, has asked the Ministry of Finance to increase the rate of the contribution from EUR 3.30 per contract to EUR 4.00 from 1 January 2015. It is not certain whether this increase will be accepted and confirmed by the Ministry of Finance. The decree stating the amount of the contribution for next year should be published during October, and FiscalReps will provide further information if any change should occur.