If I invest in a savings product for my child, can I deduct the amount invested from my income taxes?

 

The tax system in Luxembourg provides many ways to lower your personal income tax.

BGL BNP Paribas offers OptiKids (a life insurance contract for your child) and the Schwäbisch Hall Home Savings to save money for your child while deducting the premiums and/or contributions made from your taxable income. To find out more about your tax allowances, visit this page.

 

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