The Renta 2024 in Madrid starts with innovative measures and a new personal income tax deflation, while progress is being made in the processing of a personal income tax deduction to attract foreign investment. Although we have already known about the personal income tax deflation in Madrid for months, progress is now being made on… Continue reading Renta 2023 Campaign: New tax incentives in the Community of Madrid to attract foreign investment
Tag: Income Tax
Announcement for the 2023 Income Tax Campaign
It is hereby informed that the Personal Income Tax (IRPF) declaration campaign for the fiscal year 2023 has been officially launched. From April 3rd to July 1st, 2024, taxpayers in Spain are obligated to file their Income Tax returns. It is relevant to note that the Tax Agency has introduced changes to the IRPF for the fiscal… Continue reading Announcement for the 2023 Income Tax Campaign
The impact of having two payers on income tax filing
Taxpayers with multiple sources of employment income may be exempt from filing income tax returns if the total income received from the first payer does not exceed €22,000 and the income from the second payer does not exceed €1,500 annually. All taxpayers are required to file Form 100 by July 1, 2024, regardless of whether they had one or… Continue reading The impact of having two payers on income tax filing
New deductions for the purchase of electric vehicles in 2024
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
Tax advisor: Can I deduct expenses for books and school supplies on my taxes?
With the beginning of each academic period, the purchase of textbooks and school supplies is required. However, in some situations and depending on the autonomous community of residence, these education-related costs can result in tax benefits on your Income Tax return. In this post, we will focus solely on potential tax deductions related to expenses… Continue reading Tax advisor: Can I deduct expenses for books and school supplies on my taxes?
Tax advisor: The Beckham Law and its impact on taxation in Spain
The Beckham Law refers to a tax tool aimed at individuals who move their tax residence to Spanish soil due to engaging in labor activity. This system offers the opportunity to enjoy more advantageous taxation, allowing taxpayers to apply the regulations of the Non-Resident Income Tax (IRNR), even if they meet the requirements to be… Continue reading Tax advisor: The Beckham Law and its impact on taxation in Spain
Tax advisor: Clarification on How to Declare Cryptocurrencies
The General Tax Directorate, abbreviated as DGT, in its response to query V0018-23, provides an answer to one of the questions posed by a taxpayer regarding the tax treatment of cryptocurrencies. More precisely, the question raised is: What is the procedure for reporting gains and losses generated when you cannot access transaction details? According… Continue reading Tax advisor: Clarification on How to Declare Cryptocurrencies
Tax advisor: Ways to take advantage of donations to reduce the tax burden on the Personal Income Tax return
Donations can have a positive impact on your tax burden, as they not only contribute to charitable causes, but also provide significant tax benefits. When filing your income tax return, we can use donations to reduce the amount you have to pay. Below, we will explain the requirements and steps to take full advantage of… Continue reading Tax advisor: Ways to take advantage of donations to reduce the tax burden on the Personal Income Tax return
Tax advisor: Tax consequences of a transfer of residence from France
A French married couple residing in France is considering moving to Spain and wants to know what tax implications this would have in terms of income tax, wealth tax, inheritance tax and the declaration of their assets abroad. Regarding personal income tax, the income generated by the French companies to which the married couple belongs… Continue reading Tax advisor: Tax consequences of a transfer of residence from France