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Insurance Premium Tax

   Also found in: Acronyms 0.01 sec.
Insurance Premium Tax
A tax paid by insurers and insurance brokers in the United Kingdom. Insurers and brokers must pay the tax on all policies other than long-term insurance, such as life insurance, reinsurance and export finance.


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It was the insurance premium tax that drew most of the Republicans' scorn, though.
The Transit Hub Tax Credit legislation provides a tax credit against New Jersey Business Tax, Insurance Premium Tax and Gross Income Tax over a 10-year period for tenants relocating to Waterfront Corporate Center III.
Other significant revenue sources from New Hampshire's business community include the unemployment insurance tax, communications tax, insurance premium tax, and rooms and meals tax.
 
 
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