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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

Cyprus** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Tax - Stamp duty


Rate of stamp duty is €2 (prior to 1 March 2013 the rate was €1.71 / Cypriot £1.00)

For tax purposes a bloodstock risk is treated as movable property and the location of risk will be determined by reference to the where the horse is normally stabled.
Last updated: 03 Apr 2013

Method of calculation & administration

Stamp duty is a charge on the insured and is an addition to the gross premium

Method of calculation

The flat rate of stamp duty is applicable on each policy document issued.

How tax should be shown on the slip

Show in risk details section under 'Taxes payable by insured and administered by insurer(s)'.

Method of payment for Lloyd's business

Where business is placed through a Cypriot coverholder

The coverholder is responsible for collecting the duty and paying it to the Cypriot authorities.

Where business is placed without a Cypriot coverholder

Stamp duty and other applicable charges must be paid to syndicates with the premium and will be collected from syndicates and paid to the Cypriot authorities by Lloyd's.

Method of payment in relation to co-insurance arrangements

In the case of a co-insurance arrangement each co-insurer is legally responsible for handling their share of local taxes due.  The lead underwriter cannot take responsibility for handling local taxes on behalf of the following market.

Last updated: 23 Dec 2009