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Recover Your Insurance Payments with Tax Advantages
Did you know that the government rewards those who get insurance? You can get some of your money back by deducting the life insurance premiums you pay from your income tax base. Here are the details of the legal advantage.
How Does Tax Deduction Work?
If you are a salaried employee or a taxpayer filing a declaration, you can deduct the personal insurance premiums you pay from your tax base within certain limits (provided it does not exceed 15% of the gross wage and the annual amount of the minimum wage).
Who Can Benefit?
- Salaried Employees
- Public Servants
- Self-Employed Individuals
Frequently Asked Questions
How much refund will I get? ▼
It varies according to your tax bracket. Roughly 15% of the premium you pay stays in your pocket.
Are private pension payments included? ▼
No, private pensions are subject to the state contribution system, life insurance is subject to tax deduction.
What do I need to give to the company? ▼
It is sufficient to submit payment receipts to your workplace's accounting department.