When it is time to file the Personal Income Tax return, taxpayers often do not know if they have to pay taxes on severance payments received in the last year. This will vary depending on the taxpayer’s case. The Personal Income Tax Act regulates the taxation of severance payments in its article 7, which establishes… Continue reading Tax advisor: Should the severance pay be declared in the Personal Income Tax return?
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Tag: donations
Tax advisor: The family loan used to pay off the mortgage of the principal residence is deductible
According to a recent consultation of the General Tax Directorate (DGT), those taxpayers who are still entitled to deduct in the Personal Income Tax the amounts invested in their principal residence can continue to deduct these amounts, even if they cancel the mortgage with which they acquired the property and replace it with a family… Continue reading Tax advisor: The family loan used to pay off the mortgage of the principal residence is deductible
Tax Advisor: Reiteration of the harmful aspect of the Temporary Solidarity Tax on Large Fortunes
The Constitutional Court has admitted the appeal of the Junta de Andalucía and the Community of Madrid on the Temporary Solidarity Tax on Large Fortunes, confirming its initial decision not to suspend it. The Community of Madrid continues to emphasize that it could infringe fundamental principles such as legal certainty, economic capacity, non-confiscation, as well… Continue reading Tax Advisor: Reiteration of the harmful aspect of the Temporary Solidarity Tax on Large Fortunes
Tax advisor: Situations in which it is possible to revoke the tax ID granted
The tax identification number, or NIF, is an indispensable element for any company. The cancellation of this number by the Tax Agency is one of the toughest decisions that can be taken against a company. Article 147 of the General Regulations on tax management and inspection actions and procedures has been modified in certain aspects… Continue reading Tax advisor: Situations in which it is possible to revoke the tax ID granted
Tax advisor: Precautionary suspension by the Supreme Court of the second paragraph of article 45.4.b) of RGAT
The Contentious-Administrative Chamber of the Supreme Court has ruled and decided to suspend as a precautionary measure the second paragraph of article 45.4.b) of the RGAT (General Regulation of the actions and procedures for tax management and inspection and for the development of the common rules of the procedures for the application of taxes). The… Continue reading Tax advisor: Precautionary suspension by the Supreme Court of the second paragraph of article 45.4.b) of RGAT
Tax advisor: Patronage tax rebate for professionals who donate services
Presented the agreement with the Ministry of Finance to bring forward the tax rebate for patronage to professionals who provide their services on an altruistic basis. In addition to increasing tax deductions in personal income tax and corporate income tax for those individuals or companies that make contributions to non-profit organizations, the new text also… Continue reading Tax advisor: Patronage tax rebate for professionals who donate services