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Expenses of rented property |
20% of the rents |
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Interest paid in respect of rented buildings |
100% |
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Subscriptions to unions or professional associations |
100% |
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Donations to approved charitable institutions, supported by receipts |
100% |
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Social insurance contributions, life insurance premiums and contributions to approved pension funds or medical funds |
Up 1/6 of taxable income before the deduction of these allowances |
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The life insurance should be taken on the taxpayer’s life and not on his/her spouse’s. The allowance granted for insuring the life of the spouse is still valid for policies effected before 1 January 2003 |
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The annual premiums are restricted to 7% of the insured amount |
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In the case of cancellation of a life insurance policy within 6 years from the day of its issue, a percentage of the premiums, which were previously allowed, is taxable as follows:
-Cancellation within 3 years
-Cancellation from 4 to 6 years |
30%
20% | | |
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