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Income Tax - Reporting Life Annuities

Verified 07 April 2022 - Legal and Administrative Information Directorate (Prime Minister)

Life annuities are subject to income tax. Taxation varies depending on the type of annuity.

You must declare free annuities received as a result of a donation or a will.

They are taxed as pensions.

The tax authority automatically applies a abasement of 10% on the total amount of pensions declared.

The amount of the allowance shall be in the following range:

  • Minimum: €400 per pensioner
  • Maximum: €3,912 by tax centre

The 2022 2021 income tax return commenced on April 7, 2022.

The deadline varies depending on whether you file your return on paper or online.

Online Declaration
Deadline to file your tax return online

Department

Reporting deadline

1 to 19

Tuesday 24 May 2022 at 23:59

20 to 54 (including 2A and 2B)

Tuesday 31 May 2022 at 23:59

55 to 974/976

Wednesday 8 June 2022 at 11.59pm

Non-residents

Tuesday 24 May 2022 at 23:59

2022 Online 2021 Income Statement

Paper Declaration

The tax return must be filed before Thursday 19 May 2022 at 23:59, including for foreigner residents.

Lifetime annuities paid out of a retirement savings product must be reported.

They are taxed as pensions.

These are annuities paid on the termination of one of the following retirement products:

  • Popular Retirement Savings Plan (Perp)
  • Prefect
  • Madelin Agreement
  • Compulsory Retirement Savings Plan (PERO)
  • Individual Retirement Savings Plan (PERIN)
  • Group company Retirement Savings Plan (PERECO)

The tax authority automatically applies a abasement of 10% on the total amount of pensions declared.

The amount of the allowance shall be in the following range:

  • Minimum: €400 per pensioner
  • Maximum: €3,912 by tax centre

The 2022 2021 income tax return commenced on April 7, 2022.

The deadline varies depending on whether you file your return on paper or online.

Online Declaration
Deadline to file your tax return online

Department

Reporting deadline

1 to 19

Tuesday 24 May 2022 at 23:59

20 to 54 (including 2A and 2B)

Tuesday 31 May 2022 at 23:59

55 to 974/976

Wednesday 8 June 2022 at 11.59pm

Non-residents

Tuesday 24 May 2022 at 23:59

2022 Online 2021 Income Statement

Paper Declaration

The tax return must be filed before Thursday 19 May 2022 at 23:59, including for foreigner residents.

The life annuities for consideration are to be reported.

Part of the life annuities for consideration is subject to income tax. This part varies according to your age at the time of the 1to payment of the annuity.

The share that is taxable is:

Taxable share of pension by age on first payment of pension

Your age at 1to payment

Taxable share

Under 50

70%

50 to 59 years

50%

60 to 69 years

40%

Over 69

30%

On your tax return, you must show the gross amount of the life annuities for consideration received in 2021 by your members tax centre.

The tax authority will calculate the taxable share.

The 2022 2021 income tax return commenced on April 7, 2022.

The deadline varies depending on whether you file your return on paper or online.

Online Declaration
Deadline to file your tax return online

Department

Reporting deadline

1 to 19

Tuesday 24 May 2022 at 23:59

20 to 54 (including 2A and 2B)

Tuesday 31 May 2022 at 23:59

55 to 974/976

Wednesday 8 June 2022 at 11.59pm

Non-residents

Tuesday 24 May 2022 at 23:59

2022 Online 2021 Income Statement

Paper Declaration

The tax return must be filed before Thursday 19 May 2022 at 23:59, including for foreigner residents.

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