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
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Tag: Tax Legislation
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
Legal Analysis of Professional and Investor Attraction to Spain Upon the Conclusion of the “Nom-Dom” Regime in the United Kingdom
Due to the UK’s renunciation of its historic special expatriate regime known as “Nom-Dom,” Spain finds itself in a new situation offering the opportunity to attract both qualified professionals and substantial investments. This decision implies that professionals and holders of significant assets currently residing in the UK will lose their main tax benefit, thereby increasing… Continue reading Legal Analysis of Professional and Investor Attraction to Spain Upon the Conclusion of the “Nom-Dom” Regime in the United Kingdom
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
Fiscal Uncertainty in Socimis
Tax law experts highlight the considerable uncertainties generated by the tax treatment of compensations granted to members of the board of directors, demanding greater legal certainty in this area. This need for certainty is shared both by managers of these entities and by professionals specialized in tax matters. The lack of clarity in tax legislation… Continue reading Fiscal Uncertainty in Socimis
Scope of the Constitutional Court’s Judgment Declaring Partial Annulment of Royal Decree-Law 3/2016
The Constitutional Court has declared the unconstitutionality of various provisions contained in the Corporate Income Tax Law, which restricted the offsetting of negative taxable bases, as well as deductions to prevent double taxation, and also required the reversal of losses from depreciated holdings previously deducted in prior fiscal years. These measures, incorporated through Royal Decree-Law… Continue reading Scope of the Constitutional Court’s Judgment Declaring Partial Annulment of Royal Decree-Law 3/2016
Tax Advisor: Madrid approves deflation of the Personal Income Tax (IRPF) and partial recovery of the Wealth Tax
The Madrid Assembly has given the green light for the second consecutive year to the deflation of the regional scale of the Personal Income Tax (IRPF). This measure, which will apply a 3.1% adjustment, equivalent to the average increase of the CPI during the first eight months of 2023, will be in effect in the… Continue reading Tax Advisor: Madrid approves deflation of the Personal Income Tax (IRPF) and partial recovery of the Wealth Tax
Tax Advisor: Adjustments to the tax legislation of the Community of Madrid
In this article, we will discuss the recent tax legislation of Madrid. In its ruling 149/2023 dated November 7th, the Constitutional Court rejected the challenge to the Temporary Solidarity Tax on Large Fortunes. Arguments included violations of “ius in officium,” financial autonomy of the Community of Madrid, the organic law reservation, and principles such as… Continue reading Tax Advisor: Adjustments to the tax legislation of the Community of Madrid
Tax advisor: The anticipation of an imminent ruling by the Constitutional Court on the Temporary Solidarity Tax on Large Fortunes puts pressure on those taxpayers who have not yet appealed it
The judges of the Constitutional Court foresee resolving the constitutional challenges from the autonomous communities against the Temporary Wealth Tax in just two weeks. The crucial decision regarding the new tax on large fortunes, promoted by the Ministry of Finance and challenged by several autonomous governments, is approaching. The Constitutional Court will rule on its… Continue reading Tax advisor: The anticipation of an imminent ruling by the Constitutional Court on the Temporary Solidarity Tax on Large Fortunes puts pressure on those taxpayers who have not yet appealed it