Subscription: Deductions from collection for resident taxpayers
20% of the amount invested in the year in PPR is deductible from the collection of the IRS up to the maximum limit of:
- Taxable persons under the age of 35 years
350 Euros Taxable persons aged 35 or above and less than or equal to 50 years 300 Euros Taxable persons older than 50 years
Reimbursement: Income Taxation according to the current tax regime
Income is considered category E (Capital Income).
If the participant requests a total or partial refund of the Retirement Savings Plans under the conditions covered by the law, including the situation of refund by death of the Client, an effective IRS rate of 8% is applied to the income.
Reduced income tax
8% Situations defined in the Law 21.5% If reimbursement before the 5th year 17.2% Between 5th and 8th year 8.6% After the 8th year
The reimbursement may be made in whole or in part when the participant is in one of the situations indicated in paragraph 1 of Art.4 of DL nr 158/2002 of July, 2:
- Retirement due to old age
- From 60 years of agee
- Long-term unemployment of the participant or any member of their household
- Permanent incapacity
- Serious illness of the participant or any member of their household
- Use for payment of credit installments for the acquisition of permanent home