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?
Tag: Europe
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
Tax advisor: Multinationals in Spain pay an effective tax rate of 21.8%.
In 2020, the 126 Spanish multinationals with a turnover of over €750 million paid an average of 24.77% in corporate income tax. Although the tax rate in Spain was 21.8%, in the rest of the European Union the rate was 29.03%, a difference of more than seven percentage points. Effective rate The average effective rate… Continue reading Tax advisor: Multinationals in Spain pay an effective tax rate of 21.8%.
Tax Advisor: Deductions for the purchase of homes in Asturias, Castilla-La Mancha and Extremadura
The annual 2022 Personal Income Tax return campaign has started and, as every year, there are novelties that taxpayers should look out for. One of the outstanding issues is housing, as there are deductions for both renting and buying, although the latter are more limited and are the sole responsibility of the different autonomous communities.… Continue reading Tax Advisor: Deductions for the purchase of homes in Asturias, Castilla-La Mancha and Extremadura
Tax advisor: Form 036 and VAT registry books adjusted to comply with RD 249/2023
Published in the BOE the Order HFP/381/2023, which approves the model 036 based on the Census Declaration of registration, modification and deregistration in the census of businessmen, professionals and withholders; and the regulation of the rules explaining how to keep the VAT registration books through the electronic Headquarters of the State Agency of Tax Administration.… Continue reading Tax advisor: Form 036 and VAT registry books adjusted to comply with RD 249/2023
Tax Advisor: Modification of the IRPF and new ITPAJD allowance in Valencia in the Law on Collaborative Housing
The Law 3/2023 of collaborative housing of the Valencian Community has been published in the Official Gazette of the Valencian Community. This law presents several social and fiscal measures, highlighting two tax measures: – First, a new 99% rebate is created in the Transfer Tax and Stamp Duty and in the Mortgage Tax for the… Continue reading Tax Advisor: Modification of the IRPF and new ITPAJD allowance in Valencia in the Law on Collaborative Housing