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IRS Expenses in 2016

Many taxpayers were found to be unaware of the current procedure to adopt for recording tax credits in the supermarkets and several service areas in 2015. Therefore, the government approved a transitory measure allowing taxpayers to declare health expenses, education and training, and charges for housing in their 2015 tax declaration. In the future, these credits will only be accumulated by asking for an invoice with tax number. The shops then send the information to the AT which automatically attributes accumulating credits (up to maximum levels) to the individual taxpayers

The law also defines how to make deductions on spending for health and education outside the European Union or the EEA. Taxpayers must be able to document all expenses reported in this fashion.

Tax Number required for Deductions in 2015

Under the new Budget rules, Tax and Customs Authority (AT)NALLE logo-red 30% officials alert that, as of January 2015, only invoices that include an individual’s tax number (NIB) will be eligible for tax deductions on personal income tax expenses.

This applies also to pharmacy receipts.

Tax payers can claim up to 1000€ in medical expenses (doctors’ visits, lab, glasses, pharmacy bills), and receive a tax credit of  15%. Keep your tax number at hand!

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