The Community of Madrid, within the framework of its legislative prerogative, has initiated the processing of the new deduction contemplated in the Personal Income Tax (IRPF), with the purpose of promoting and attracting foreign investments. This process is based on the aim of fostering international investment in the Madrid region, and aligns with the regulatory initiative… Continue reading The Community of Madrid Initiates the process for processing deduction in Personal Income Tax to attract foreign investment
Tag: IRPF
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
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
Family business exemption
The requirements for a company to be considered as a “family business” and to be able to benefit from the exemption in Personal Income Tax, Inheritance and Gift Tax, as well as Wealth Tax, are the following: In addition, in order to qualify for this exemption right, the company must allocate at least more than… Continue reading Family business exemption
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: Tax residence of individuals in spain
The main criteria for determining the tax residence of individuals is the time spent in Spanish territory. The number of days spent in Spanish territory includes both days of physical presence as well as sporadic absences. Given the nature of sporadic absences as an indeterminate legal concept, in order to determine the number of “days… Continue reading Tax Advisor: Tax residence of individuals in spain
SPANISH EXIT TAX
Law 26/2014, of November 27 on Personal Income Tax (hereinafter, PIT), in force since January 1, 2015, establishes a case of taxation of unrealized capital gains when a taxpayer moves outside Spain, as an instrument to prevent tax evasion and a measure to guarantee tax revenues. The exit tax established in the PIT taxes the… Continue reading SPANISH EXIT TAX
Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
ETVEs are efficient corporate vehicles for investments abroad. These entities benefit from a special tax regime that significantly reduces the tax burden on foreign profits, which makes these vehicles highly attractive to international investors. However, the application of the special tax regime requires the fulfilment of several requirements. In the following, we will discuss the… Continue reading Tax advisor: Foreign Securities Holding Entities (ETVE): Considerations about the application of the ETVE regime
