Enterprise Insurance Introduces 21% VAT and Levies on Non-Motor Policies From July 1
Enterprise Insurance has announced that beginning July 1, 2025, all Non-Motor Insurance policies—excluding bonds—will attract a combined 21% charge made up of 15% Value Added Tax (VAT) and 6% levies. The implementation aligns with the provisions of the VAT (Amendment) Act, 2023 (Act 1107).
In a notice issued to policyholders, the company stated that the new tax directive applies to both new and existing policies, in compliance with ongoing government efforts to bolster domestic revenue mobilisation.
“Effective 1st July 2025, all Non-Motor Insurance policies (excluding Bonds) will attract VAT of 15% and levies of 6%, in accordance with the VAT (Amendment) Act, 2023,” Enterprise Insurance noted.
Customers seeking additional information have been advised to reach out via email at customerservice.insurance@myenterprisegroup.io or visit any Enterprise Insurance branch nationwide.
Enterprise Insurance assured its clients of its unwavering commitment to delivering reliable insurance solutions despite the tax adjustment. The VAT (Amendment) Act forms part of wider fiscal reforms introduced by government to broaden the tax net and increase domestic revenue mobilisation.
