Sovos IPT Managed Services is a comprehensive solution for managing insurance premium tax (IPT) compliance. This service covers the entire IPT process, from determining rates and staying updated on regulations to preparing and submitting returns, as well as handling payments. The service is designed to alleviate the compliance burden and mitigate risks for businesses operating in multiple markets or planning to expand their operations.

Key Features

End-to-End IPT Management Sovos provides a complete suite of services for IPT compliance.

• Rate determination and regulatory updates
• Return preparation, submission, and payment handling

Technology-Enabled Service The service utilizes advanced software to ensure accuracy and efficiency.

• Real-time, dynamically updated software
• Integration of technology with human expertise

Global Regulatory Expertise Sovos employs a team of specialists to navigate complex international regulations.

• Local language experts for effective communication
• Regulatory specialists monitoring global IPT regulations

Benefits

Reduced Compliance Workload Sovos takes on the burden of IPT compliance management.

• Frees up internal resources for core business activities
• Minimizes the need for in-house IPT expertise

Risk Mitigation The service helps businesses stay compliant and avoid penalties.

• Ensures adherence to current regulations across multiple jurisdictions
• Prepares businesses for compliance in new markets

Scalability and Future-Proofing Sovos' service adapts to changing business needs and regulatory landscapes.

• Supports businesses in their current markets
• Facilitates expansion into new territories with different IPT requirements