Business · Economy · 1 day ago

Payments to redeem university years are deductible from income in Italy

Payments to redeem university years are deductible from income in Italy

A person in Italy asked whether payments to redeem university study years for pension purposes can be deducted from income.

The person had applied to the national social security institute, INPS, and was paying the contributions in instalments.

The answer is yes: the sums paid are deductible from total income.

The rule covers pension and social security contributions paid under the law, as well as voluntary payments to a person’s compulsory pension scheme.

This means the deduction applies to payments for redeeming university years.

The explanation cites Italy’s Consolidated Income Tax Act.

Sources

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