Giorgos Agapiou2024-06-18T13:02:54+03:00The Department of Taxation issued on May 30, 2024,
Circular 3/2024 regarding the tax handling of insurance premiums for medical care plans.
The Circular provides clarifications regarding the tax treatment of the payment of insurance premiums in medical care plans by individuals for their own coverage and by employers for the coverage of their employees.
According to the circular, the plans offered by insurance companies supervised by the Commissioner of Insurance or by organized Funds of employers or professional branches with separate legal personality, are considered to have the approval of the Commissioner of Taxes provided that the tax deduction is granted as follows:
Until tax year 2023:
providing a deduction, from the...
