Corporate Tax (IS)
- Exit tax: payment in 5 yearly instalments
- Special tax rate 15% for SOCIMIS
- Tax rate 1% for SICAVs: more difficult to meet the requirements
- New income to declare for Non-residents and Permanent Establishment: income from leasings and insurances are included.
Personal Income Tax (IRPF)
- Reduction 60% real estate income: only applicable to income declared in your declaration.
- ‘Pactos Sucesorios’: Benefit generated from the time of acquisition of the deceased and its time of death or exercise of the ‘pacto sucesorio’ should be declared as a capital gain as well.
- ETF regulation homogenization: the investors in foreign ETFs can not be benefited from the reinvestment regime (“régimen de traspasos”)
Inheritance and Gift Tax(ISD)
- Valuation real estate: “reference value”
- Regional (“Comunidades Autónomas”) tax rules are extended to non-residents in the EU
Wealth Tax (IP)
- Valuation of real estate: the value “determined” by the Authorities
- Life insurance: they are included in the declaration even if the policyholder does not have the right to redemption
Property transfer tax and Stamp duty (ITPAJD)
- Valuation of real estate: “reference value”
- Purchase of gold or jewellery to individuals: not subject to tax when the transferor is a professional in the exercise of his/her professional activity.
Tax on Economic Activities(IAE)
- Exemption:
- It clarifies that it also applies to non-resident natural persons.
- Group of entities according to article 42 of Commercial Code: the €1M limit takes the net amount turnover of the group “regardless of the accounting consolidation obligation”
General Tax Law (LGT)
- Late filing surcharge: they are reduced
|
Regularisation= R |
Now |
After |
| R < 1 month | 5 | 1 |
| 1 < R < 2 months | 5 | 2 |
| 2 < R < 3 months | 5 | 3 |
| 3 < R < 4 months | 10 | 4 |
| 4 < R < 5 months | 10 | 5 |
| 5 < R < 6 months | 10 | 6 |
| 6 < R < 7 months | 15 | 7 |
| 7 < R < 8 months | 15 | 8 |
| 8 < R < 9 months | 15 | 9 |
| 9 < R < 10 months | 15 | 10 |
| 10 < R < 11 months | 15 | 11 |
| 11 < R < 12 months | 15 | 12 |
|
R > 12 months |
20 + i | 15 + i |
There is NO SURCHARGE if all the following requirements are met:
- No sanction
- Payment of the amount due
- <= 6 months
- No rectification or appeal is submitted
(…)
- Sanctions: the reductions on sanctions are increased
- By minutes with the agreement: from 50% to 65%
- By prompt payment: from 25% to 40%
- By compliance: remains at 30%
- The period to initiate a sanctioning procedure by the Tax Authorities is extended from 3 to 6 months
Others
- Form 720: a new category “virtual currency” is added
- Cash payment: the limit goes from €2,500 to €1,000
- Tax heaven concept: now it is “non-cooperative jurisdiction”
- Catastro: they will submit a provisional “reference value” before October the 30th and the final one during the first 20 days of December
- Suspension of covid deadlines: the change affects the “prescripción” periods.
