Widows lose tax exemption

WIDOWS’ pensions will no longer be exempted from taxation, according to a bill tabled by the government.

Lawmakers heard that the bill was part of a general effort to rationalise benefits and was not part of the terms of the island’s bailout.

The bill provides that widows’ allowances will constitute taxable income, ending the exemption.

AKEL MP Yiannos Lamaris said the bill essentially fixed the inconsistency of having a pension taxed while the recipient was alive but exempted when they died.

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