Higher tax alert for insurers

Governments could soon turn to transactional taxes to replace the revenue that is vanishing from their coffers in the credit crunch, one global tax consultancy has warned.

Mike Stalley, chief executive of independent global tax consultancy FiscalReps, warned brokers and insurers that both insurance premium tax (IPT) and federal excise tax (FET) would increasingly be on governments' radar.

Mr Stalley, who had addressed more than 100 delegates at the annual Insurance Premium Tax Forum in the City

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