The San Marino Tax Authority has advised FiscalReps that authorised insurers should register for IPT and file an annual nil return in the event that no taxable business is conducted in San Marino. This will confirm that no IPT is due for the relevant period. There are no penalties for late registration as long as the authorised insurer is registered for IPT and meets the first filing deadline of 30 May 2015.
As a consequence, all authorised insurers registered with the San Marino Central Bank are required to appoint a fiscal representative and register for IPT. The advice to us from the San Marino Tax Authority is in writing and the IPT legislation is silent on this point.