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Practical Income Manual 2021.

5. Individual systematic savings plans (PIAS)

Regulations: Additional Provision third Law Personal Income Tax

Individual Systematic Savings Plans (PIAS) are contracts entered into with insurance entities to constitute an insured life annuity with the resources contributed, to which the Personal Income Tax Law grants more beneficial tax treatment, when they meet the following requirements:

  1. Instrumentation and form of perception of benefits
  2. Minimum contribution period. Maximum annual contribution and total amount of accumulated premiums
  3. Provision of economic rights and taxation of the insured annuity