In recent months, regulations have come into force that benefit those who have purchased electric vehicles. Likewise, these tax modifications, in force since last year, will positively affect those who purchase battery recharging systems for electric cars. Specifically, article 189 of Royal Decree-Law 5/2023, of 28 June, introduces two additional deductions in Personal Income Tax… Continue reading New deductions for the purchase of electric vehicles in 2024
Tag: deductions
Tax Advisor: Legislative Titles in the Community of Madrid: Tax Reforms and Deductions for the Fiscal Year 2023
The Official Gazette of the Community of Madrid on December 21, 2023, has published Law 12/2023, dated December 15, which introduces temporary adjustments to the bonus for the Wealth Tax in the Community of Madrid during the validity of the Temporary Solidarity Tax on Large Fortunes (ITSGF). According to the amendment, from January 1, 2023,… Continue reading Tax Advisor: Legislative Titles in the Community of Madrid: Tax Reforms and Deductions for the Fiscal Year 2023
Tax Advisor: Corporate Tax deductions
In the year 2023, capital companies, such as corporations and limited companies, are subject to a general tax rate of 25%. However, it is important to mention that there is a reduced rate for small companies, which represents a fiscal novelty in that year. Additionally, there is a 15% tax rate applicable to newly created… Continue reading Tax Advisor: Corporate Tax deductions
Tax advisor: Changes in maternity deductions for the years 2020 to 2022
The maternity deduction, established for mothers who have children under three years of age and are self-employed or employed, and who are registered in the corresponding social security or mutual insurance scheme, has undergone changes as of January 1, 2023 due to the Employment Promotion Law. According to this amendment, unemployed mothers are now also… Continue reading Tax advisor: Changes in maternity deductions for the years 2020 to 2022
Tax advisor: Application of tax credits for the consolidation group
The Tax Agency has published a note regarding the application of tax credits by the consolidation group. The content is mainly based on deductions from previous years and tax loss carryforwards. On the occasion of the introduction of the new tools provided by the AEAT for taxpayers who are under the special tax consolidation regime… Continue reading Tax advisor: Application of tax credits for the consolidation group
Tax Advisor: Deductions in the Personal Income Tax return
When the time comes to file the Personal Income Tax return, the citizen must know which deductions he/she can apply for. Below, we will mention the main activities subject to deductions: – In order to take advantage of the tax benefits of a pension plan, it is important to bear in mind that the contributions… Continue reading Tax Advisor: Deductions in the Personal Income Tax return
Tax advisor: Deductions for a rehabilitated property finally destined for renting
A tax payer bought a property and paid the Transfer Tax and Stamp Duty (modality of Onerous Patrimonial Transfers). She is currently carrying out renovation work on the property, as stipulated in article 20.1.22 of the VAT Law, with a view to selling the building once it is complete. During the renovation works, VAT is… Continue reading Tax advisor: Deductions for a rehabilitated property finally destined for renting
Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
Law 10/2023, of April 12th, which has been published in the Official Gazette of the Community of Madrid, has modified the Law of Madrid’s Assigned Taxes. The objective is to incentivize improvements in rental housing through the introduction of new deductions in the Personal Income Tax. New measures Among all the new measures we will… Continue reading Tax Advisor: Extension of the deductions in the Personal Income Tax of the Community of Madrid for 2023
Tax advisor: The bank certificate is sufficient to prove the loss due to the transfer of financial investments between related companies
The question that arises is the deductibility of losses due to the transfer of financial investments between related companies. The Administration has denied the deduction of the due to the bankruptcy of the related company, considering that the evidence provided by the plaintiff was insufficient. The Chamber considers that the subject matter of the appeal… Continue reading Tax advisor: The bank certificate is sufficient to prove the loss due to the transfer of financial investments between related companies
Tax advisor: Without business concealment, there is no simulation
According to the principles of the General Theory of Law, when a contract is entered into for a different purpose than the one normally attributed to it, a defect in the cause may arise. This situation can be divided into two types of contracts: those with a false cause, in which the parties do not… Continue reading Tax advisor: Without business concealment, there is no simulation
