These are the fiscal novelties in the 2022 General Budget
Posted: Tue Dec 17, 2024 4:56 am
In mid-October, the Draft General State Budget for 2022 was presented to the Cortes Generales. We tell you about the main fiscal developments for this year.
The General State Budget foresees fiscal changes in the personal income tax, VAT and corporate tax, as well as in the income tax for non-residents and some local taxes.
In this post we analyze the tax changes for 2022 foreseen in the budgets so that you know the regulations, comply with them and avoid problems with the Treasury.
With the COVID-19 crisis, many companies have had to close, which has meant that tax debts remain unpaid. This situation may continue into 2022. The problem is that the Treasury claims tax debts from companies' directors. For this reason, it is very important to be aware of the tax developments of each year, in order to comply with tax laws and avoid inspections by the Tax Agency.
Fiscal news in the 2022 General State Budget
Although the 2022 General State Budget Law is only a draft and is pending approval by the Cortes Generales, we can highlight the following fiscal developments :
Personal Income Tax
The new tax developments in personal income tax are as follows:
Reduction of the limit on deductible contributions . In the hotels and motels email list case of personal income tax, the limit applicable to contributions to social security systems has been reduced from 1 January 2022. It goes from 2,000 to 1,500 euros per year. However, in the case of employer contributions, the limit increases from 8,000 to 8,500 euros per year.
Objective estimation system (modules). On the other hand, with regard to modules , the established limits are extended until 2022.
Public aid . The General State Budget stipulates that public aid received to repair the damage caused by the volcanic eruption on the island of La Palma is not included in the personal income tax base.
New developments in personal income tax: limits on modules are extended, limits on deductions in pension plans are reduced and aid for volcanic eruptions is eliminated from the personal income tax base.
Corporate tax
The new tax developments in corporate tax are as follows:
In corporate tax, a minimum tax rate of 15% of the taxable base is established for those companies whose net turnover is equal to or greater than 20 million euros or are taxed under the fiscal consolidation regime, regardless of the amount of turnover.
The General State Budget foresees fiscal changes in the personal income tax, VAT and corporate tax, as well as in the income tax for non-residents and some local taxes.
In this post we analyze the tax changes for 2022 foreseen in the budgets so that you know the regulations, comply with them and avoid problems with the Treasury.
With the COVID-19 crisis, many companies have had to close, which has meant that tax debts remain unpaid. This situation may continue into 2022. The problem is that the Treasury claims tax debts from companies' directors. For this reason, it is very important to be aware of the tax developments of each year, in order to comply with tax laws and avoid inspections by the Tax Agency.
Fiscal news in the 2022 General State Budget
Although the 2022 General State Budget Law is only a draft and is pending approval by the Cortes Generales, we can highlight the following fiscal developments :
Personal Income Tax
The new tax developments in personal income tax are as follows:
Reduction of the limit on deductible contributions . In the hotels and motels email list case of personal income tax, the limit applicable to contributions to social security systems has been reduced from 1 January 2022. It goes from 2,000 to 1,500 euros per year. However, in the case of employer contributions, the limit increases from 8,000 to 8,500 euros per year.
Objective estimation system (modules). On the other hand, with regard to modules , the established limits are extended until 2022.
Public aid . The General State Budget stipulates that public aid received to repair the damage caused by the volcanic eruption on the island of La Palma is not included in the personal income tax base.
New developments in personal income tax: limits on modules are extended, limits on deductions in pension plans are reduced and aid for volcanic eruptions is eliminated from the personal income tax base.
Corporate tax
The new tax developments in corporate tax are as follows:
In corporate tax, a minimum tax rate of 15% of the taxable base is established for those companies whose net turnover is equal to or greater than 20 million euros or are taxed under the fiscal consolidation regime, regardless of the amount of turnover.