In its Resolution 00765/2023, dated April 22, 2024, the Central Economic-Administrative Tribunal (TEAC) has decided to unify criteria regarding the possible application of the deduction for investment in a habitual residence in years after 2012 for those taxpayers who purchased their habitual residence before January 1, 2013, and who did not use or report said… Continue reading The Central Economic-Administrative Tribunal (TEAC) has standardized criteria regarding the deduction for investment in a habitual residence not made prior to the year 2013
Tag: Personal Income Tax
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
In Personal Income Tax, if a taxpayer carries out an economic activity, late payment interest is a deductible expense
The issue of appeal focuses on determining whether, in the context of Personal Income Tax (IRPF), late payment interest, whether resulting from a liquidation in a process of verification of income related to the economic activity of an individual or those generated by the suspension of the execution of a contested administrative act, can be… Continue reading In Personal Income Tax, if a taxpayer carries out an economic activity, late payment interest is a deductible expense
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?
The article 7p personal income tax exemption: a complete guide
If you have the chance to find work abroad, and you are offered the opportunity to move temporarily outside Spain, or to provide training for a branch of your company in another country, you may find yourself in a situation where you have the opportunity to work abroad. If this is your case, pay attention… Continue reading The article 7p personal income tax exemption: a complete guide
Beckham Law: who can apply for it?
The name of this law may be familiar to us, as it is somewhat associated with the former British footballer. This is because this player was one of the first to benefit from this legislation, which is aimed at foreigners who wish to move their residence to Spain for work purposes. Therefore, the affected person… Continue reading Beckham Law: who can apply for it?
Variation in the reduction in the IRPF for renting a home
As from January 1, 2024, a modification is introduced in Article 23.2 of Law 35/2006, of November 28, on Personal Income Tax (IRPF), relating to the reduction applicable to the positive net yield obtained from the leasing of real estate used for housing. Firstly, the current variation from 60% to 50% for new rental contracts.… Continue reading Variation in the reduction in the IRPF for renting a home
Everything you need to know about the self assessment rectificative tax return
With the publication of Law 13/2023, in May last year, a new tool aimed at improving compliance with our tax obligations was introduced: the rectifying self-assessment. This law anticipated the possibility of establishing a single system for correcting self-assessments, replacing the current dual method comprising both the filing of complementary self-assessments and the request for… Continue reading Everything you need to know about the self assessment rectificative tax return
Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
An Italian company engaged in the storage and transport of petroleum products was merged by absorption. As an authorized warehouse keeper, it made 196 shipments of hydrocarbons (diesel and gasoline) from its tax warehouse in Italy to a company in Slovenia, which was authorized to receive these products as a registered trader. However, the Customs… Continue reading Tax advisor: According to the CJEU, the unauthorized removal of an excise goods from the suspension regime precludes tax exemption for the authorized warehousekeeper.
Tax advisor: Is deduction the same as tax relief?
Deduct and deduct are two common terms in the context of Personal Income Tax (IRPF) that are frequently used. These terms relate to opportunities to reduce the amount of tax payable, something that the self-employed should understand. When we refer to the deduction in the income tax return, we are talking about the possibility of… Continue reading Tax advisor: Is deduction the same as tax relief?