Tax Alert – Greece – Changes to the Motor Insurer Bureau Contributions
Following the publication of decree 92/25-4-16 and subsequent MIB circular 222/2016, we can confirm that the 0.40% rate will apply to all types of motor vehicles for MIB contributions made from 1st January 2017 onwards. As a result, the 14% contribution applicable to Trucks/Lorries will be not be due on premiums from 1st November 2016 (due to the two-month nature of the MIB contributions).
Clarification has also been made that the contribution to the MIB should be calculated on the full amount of any MTPL premiums before and taxes or other charges have been accounted for.
For any further information related to Insurance Premium Tax please do not hesitate to contact us: email@example.com.