Increase of the limit for certain allowances for individualsnconstantinou
Effective from the tax year 2019 onwards, the limit of the allowances provided for in article 14 of the Income Tax Law is increased from 1/6th to 1/5th of an individual’s taxable income before such allowances.
These include contributions to:
- Social Insurance Fund
- Approved Pension and Provident Funds
- General Healthcare System
- Life insurance policies;
- Medical and other approved funds