Satellite Finance Network

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Finance and regulatory network for the UK space industry

Budget announces plans to exempt space satellite insurance from IPT

The Satellite Finance Network has been campaigning to have satellite insurance risks made exempt from insurance premium tax (IPT). The 6% tax is anti-competitive for UK satellite operators, as compared with companies in the US, for example.

The budget of 19 March 2014, confirmed that "The Government will legislate to exempt space satellite insurance from IPT."

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