Text by Jim Player
Tax deductions in Portugal represent an important benefit for companies, particularly in what insurance is concerned. By purchasing health, life, or other types of protection for their employees, businesses can reduce their tax burden, contributing to a more efficient financial management.
For instance, health insurance is a deductible expense under the Corporate Income Tax (IRC). Companies can deduct 15% of the premiums paid, resulting in a significant reduction of the taxable base. This tax incentive not only improves the financial position of businesses, but also promotes the well-being of employees, enhancing satisfaction and productivity.
In this context, the role of an insurance agency is crucial. Jim Player as an insurance agent provides specialised consultancy to identify the best insurance solutions tailored to the specific needs of each company. Through personalised support, we ensure our clients benefit from optimal coverage while maximising their tax deductions.
Furthermore, life insurance can be classified as personnel expenses, provided it is related to the company’s activities, and the premium amounts can be fully deducted. Maintaining accurate accounting and documenting all payments made to insurers is essential for taking advantage of available deductions.
In summary, tax deductions related to insurance offer a valuable opportunity for companies in Portugal. With expert guidance from Jim Player, it is possible to optimise both employee protection and the financial health of the business, as well as protect it from unexpected situations.
Since 1981, we have dedicated ourselves to ensuring that families and businesses are properly protected. With over 40 years of experience, our commitment to transparency, honesty and personalised support has earned us the trust of thousands of customers. Choosing Jim Player means choosing a team that puts your needs first, offering effective and hassle-free solutions so you can live and run your business in peace.
(+351) 289 395 662
(chamada para a rede fixa nacional / call to the national landline)
comercial@jimplayer.pt | www.jimplayer.pt
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