This year, individuals will be able to reduce their taxable income not only through tax exemptions, but also through an increased list of tax deductions. According to the vice chairman of the parliamentary Commission on Economy, Budget and Finance, Viktoriya Belous, it will be possible to fully deduct mandatory social and health insurance contributions.
Also, according to the Tax Code, there are deductions for medical expenses and voluntary health insurance. The maximum amount of these deductions is set at the level of the average monthly salary in the economy – up to 17,400 lei. A similar limit is set for the interest on mortgage loans taken for the purchase of a first home outside the state program “First House”.
In addition, in 2026, the possibility of deducting life insurance premiums will be maintained. Individuals who purchase an appropriate insurance policy will be able to reduce their taxable income by the amount determined by law and paid for the premiums. And in this case, it should not exceed the amount of the average monthly salary in the economy – up to 17,400 lei.
In order to benefit from this tax incentive, taxpayers must have an insurance contract and documents confirming the actual payment of the insurance premium. The expenses incurred will be reflected in the annual income tax declaration submitted to the tax authority.
This measure is designed to support citizens who wish to ensure their financial protection and at the same time take advantage of the reduced tax burden.
The authorities urge citizens to prepare in advance for filing the declaration, keep all supporting documents and carefully study the provisions of the legislation on tax benefits in order to take maximum advantage of the opportunities provided.
