One Sentence Value Prop
Ensure Seamless Compliance Across Jurisdictions Regulatory changes happen fast. Sovos keeps you ahead of evolving tax requirements with automated updates and real-time compliance monitoring.
Sovos IPT Determination
Sovos Insurance Premium Tax (IPT) Determination
Managing Insurance Premium Tax (IPT) compliance is complex due to varying tax rates, regulations, and exemptions across jurisdictions. Sovos IPT Determination simplifies tax calculation and reporting, ensuring accuracy, automation, and compliance for insurers operating in multiple regions.
- Automated IPT rate determination across global jurisdictions
- Real-time tax calculations with integrated compliance updates
- Seamless integration with policy administration and billing systems
- Support for complex tax scenarios, including exemptions and special cases
- Digital reporting to meet evolving regulatory requirements
- Custom pricing based on your company and needs
Why Sovos IPT Determination?
Global Coverage
Supports IPT compliance across multiple jurisdictions with automated tax rate updates.
Automation & Accuracy
Reduces human error and ensures precise tax calculations.
Industry Trusted
Leading insurers rely on Sovos for end-to-end IPT compliance management.
Solutions to Your Top Tax Challenges
Ensure Global Compliance with Confidence
Navigating IPT regulations requires precision. Sovos automates tax rate determination and ensures compliance across multiple jurisdictions, reducing manual errors and risks.
Automated country-specific IPT rate application
Automatically applies the correct IPT rates based on jurisdiction-specific regulations and policy details.
Regulatory updates integrated in real time
Ensures compliance by instantly incorporating the latest tax rate changes and regulatory updates.
Centralized compliance dashboard for multi-jurisdictional filing
Provides a single view to manage IPT compliance across multiple countries and tax authorities.
Reduce Manual Work and Eliminate Errors
Manual tax calculations expose insurers to compliance risks. Sovos automates IPT calculations and reporting, ensuring accuracy and minimizing administrative burden.
Automated tax data validation and audit trails
Enhances accuracy by validating tax data and maintaining detailed audit logs for compliance tracking.
Direct electronic reporting with tax authorities (where applicable)
Simplifies compliance by submitting IPT filings directly to tax authorities through secure digital channels.
Real-time error detection and compliance alerts
Identifies potential filing errors and compliance risks instantly, preventing costly penalties.
Seamless Integration with Your Insurance Systems
Sovos IPT Determination integrates with core insurance policy and billing systems, ensuring smooth, accurate tax determination without disrupting operations.
API-driven integration with policy administration platforms
Seamlessly connects with insurance systems to automate IPT determination within existing workflows.
Scalable cloud-based compliance infrastructure
Adapts to business growth with a secure, cloud-based platform designed for global IPT compliance.
Customizable configurations to meet insurer-specific needs
Tailors IPT determination and reporting workflows to align with unique business and regulatory requirements.
