Yes, since the Ancoria Pension Plan is an approved pension plan for the purposes of Income Tax Law 118(I)/2002, both employers and their employees are eligible for tax relief on contributions paid into our occupational pension scheme.
If you’re an employer, you can deduct up to 10% of your contributing employees’ salaries from your taxable income.
For employees, up to 10% of your annual taxable income is tax-deductible, as long as the total amount of tax relief from pension contributions and insurance premiums doesn’t exceed 1/5 of your total taxable income.