|Expenses of rented property||20% of the rents|
|Interest paid in respect of rented buildings||100%|
|Subscriptions to unions or professional associations||100%|
|Donations to approved charitable institutions, supported by receipts||100%|
|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|
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.
The annual premiums are restricted to 7% of the insured amount.
|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