Taxation System in India and Panama

INCOME TAX DEDUCTIONS
Mortgage interest paid on home - up to 15,000$
Student loans interest payments
Health insurance premiums
Contributions to private pension plans - to 10% of yearly income
Donations to a non-profit organization
Political contributions

Income tax 25%
Social security contributions up to 13.5% of the total remuneration of the employee
Workplace accident insurance premiums at rates ranging from 0.56% to 5.67%
Stamp duties from 0.10$ to 100$
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