Indeed, the Central Economic-Administrative Court (TEAC), in its Resolution 00765/2023, dated April 22, 2024, has decided to unify criteria in relation to the possible application of the deduction for investment in primary residence in the years after 2012 for those taxpayers who acquired their primary residence before January 1, 2013 and who did not apply… Continue reading Unification of criteria by the TEAC with respect to the deduction for investment in primary residence
Tag: income tax return
Limitation on the possibility of claiming self-assessed personal income tax in Form 720
The Supreme Court (SC) has restricted the possibility of recovering the Personal Income Tax (IRPF) self-assessed through the Model 720, by closing the State’s patrimonial responsibility. This implies that if the rectification of the self-assessments was not requested in the following four years, it will not be possible to recover the taxes paid. This is… Continue reading Limitation on the possibility of claiming self-assessed personal income tax in Form 720
End of personal income tax compensation for capital losses derived from donations
From now on, donors will no longer be able to apply the capital losses suffered between the acquisition and the donation of the property to reduce the tax base, although they will be obliged to include the gains in the IRPF, in case they have occurred. This decision of the Supreme Court invalidates the previous… Continue reading End of personal income tax compensation for capital losses derived from donations
How is the severance pay taxed for income tax purposes?
The severance payment represents the settlement and payment of outstanding debts owed by the company to its employees at the end of the employment relationship, and is subject to personal income tax. The severance payment condenses the company’s obligation to the employee at the end of the employment relationship, whether due to dismissal or voluntary… Continue reading How is the severance pay taxed for income tax purposes?
Main deductions in the IRPF 2023 declaration
The deadline for filing the Income Tax Return for the 2023 fiscal year – the annual declaration of the Personal Income Tax (IRPF) – ends on July 1, 2024. Therefore, in order to optimize the tax result and minimize the tax burden, it is essential to become familiar with the deductions to which one is… Continue reading Main deductions in the IRPF 2023 declaration
Obliged to file the IRPF 2023 income tax return
As we already know, the deadline for filing the 2023 income tax return online began on 3 April. If you require assistance, you must wait until 29 March to make an appointment by telephone (the “we’ll call you” service is activated on 7 May), or until 29 May for in- person filing at the Tax… Continue reading Obliged to file the IRPF 2023 income tax return
Tax brackets for the 2023 personal income tax return
The 2023 Personal Income Tax (IRPF 2023) return campaign started yesterday, 3 April, and will be open for filing until 1 July. In this article, we are going to resolve the main questions about what income is taxed by IRPF and also what the percentage of income to be paid for this tax is, which… Continue reading Tax brackets for the 2023 personal income tax return
Advantages and disadvantages of filing the Income Tax return jointly
At the beginning of the period for filing the Personal Income Tax (IRPF) return, it is common for couples to consider whether it is more beneficial to opt for joint or individual filing. While joint filing can bring advantages in various cases, its convenience is not always evident. This article analyzes when it may be advantageous to file jointly… Continue reading Advantages and disadvantages of filing the Income Tax return jointly
Fiscal Updates for the Year 2024
In a recent binding resolution, the Directorate-General of Taxes (DGT) has relaxed its criteria regarding the accreditation of environmental deductions, establishing a maximum period of 15 years, even when investments were made in previously inspected fiscal years. Article 39 of the Consolidated Text of the Corporate Income Tax Law (TRLIS) (Royal Legislative Decree 4/2004, of… Continue reading Fiscal Updates for the Year 2024
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
