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Download the full document here<\/a><\/p>\n [\/et_pb_text][et_pb_toggle title=\u00bbIncome Tax Reform IRPF-IRNR-ISD-IP\u00bb _builder_version=\u00bb3.8\u2033]<\/p>\n Law 26\/2014, of November 27 (BOE of November 28, 2014)<\/em><\/p>\n The following measures enter into force on January 1, 2015:<\/em><\/p>\n 1.-Temporary imputation rules, modifications:<\/strong><\/p>\n For public subsidies, the capital gain is postponed at the time of collection.<\/em><\/p>\n Imputation of capital losses of overdue and uncollected credits to the tax period in which a reduction, bankruptcy or execution of credit occurs<\/em><\/p>\n 2.-Exempt income with progressiveness. New concept.<\/strong><\/p>\n They are those provided for in International Agreements to avoid double taxation, which will be added to the general tax base or savings to calculate the average tax rate, and how to apply it.<\/em><\/p>\n 1.-Severance pay<\/strong><\/p>\n The new limits for the exemption are defined, and the non-exempt income is treated as irregular income. New percentages are established for the reduction, and it establishes the limit for its application.<\/em><\/p>\n 2.-Exemptions<\/strong><\/p>\n New assumptions for scholarships from banking foundations and for crew members of certain fishing vessels.<\/em><\/p>\n 3.-<\/em>\u00a0<\/span>Comprehensive income from work<\/strong><\/p>\n Mandatory tax allocation of insurance contracts that jointly cover retirement and death or disability is introduced.<\/em><\/p>\n Transitional regimes are established for benefits from Pension Plans, social welfare mutuals and insured pension plans and benefits derived from group insurance that implements pension commitments.<\/em><\/p>\n 4.-Remuneration in kind<\/strong><\/p>\n Remuneration that will not be considered RT, exemptions for delivery of shares to employees, assignment of use of vehicle and home owned by the payer are established.<\/em><\/p>\n 5.-Irregular yields<\/strong><\/p>\n New limits are established for the reduction, and for the treatment of irregular income<\/em><\/p>\n 6.- Deductible expenses<\/strong><\/p>\n The general reduction disappears, including a new concept of "other expenses" of 2,000 euros as a general rule, expandable in certain circumstances.<\/em><\/p>\n 7.-Reduction for work income<\/strong><\/p>\n The applicable amounts and the subjects to which it applies are modified, eliminating the reduction for geographical mobility.<\/em><\/p>\n The reduction for leases to people under 30 years of age is eliminated.<\/em><\/p>\n The reduced percentage of imputation of real estate income is limited to the municipalities where the cadastral values have been reviewed.<\/em><\/p>\n The exemption regime, irregular returns, is substantially modified, and Long-Term Savings Plans are created, the Individual Systematic Savings Plans... the consideration of capital income is established in the event of distribution of the issuance premium of non-negotiated securities in certain circumstances and others are modified<\/em>\u00a0<\/span>Relevant aspects of the income from movable capital.<\/em><\/p>\n YIELD OF ECONOMIC ACTIVITIES<\/em><\/strong><\/p>\n Concept of economic activity<\/strong><\/p>\n It is modified in the case of property leases and for professional activities.<\/em><\/p>\n Determination of net return in direct estimation<\/strong><\/p>\n The limit of 4,500 euros of deduction in contributions to insurance contracts with mutual societies is modified. And expenses that are difficult to justify are limited to 2,000 euros per year.<\/em><\/p>\n Applicable reductions for the determination of net income<\/strong><\/p>\n An annual limit of 300,000 euros is established for irregular returns, reducing the reduction percentage to 30%.<\/strong><\/em><\/p>\n Assumptions in which<\/strong>\u00a0<\/span>there is no gain or loss<\/strong><\/p>\n Capital reductions with return of contributions unlisted securities<\/p>\n Termination of the matrimonial property regime<\/p>\n Taxi license transmission<\/p>\n Transfers for consideration<\/strong><\/p>\n Modifications in the application of the update and depletion coefficients.<\/strong><\/p>\n Specific valuation rules<\/strong><\/p>\n New rules are established for the transfer of subscription rights for listed securities and non-negotiated securities and shares or participations in IICs.<\/p>\n Reinvestment assumptions. Transmissions by people over 65 years of age<\/strong><\/p>\n If they are intended to constitute an insured life annuity in your favor8 with a limit of 240,000 euros), capital gains will be exempt.<\/p>\n The content and the income integration and compensation regime are significantly modified.<\/p>\n CONTRIBUTIONS TO PENSION PLANS AND SIMILAR SYSTEMS<\/em><\/strong><\/p>\n The main modifications refer to the reduction for contributions to social security systems<\/p>\n PERSONAL AND FAMILY MINIMUMS<\/em><\/strong><\/p>\n The minimums for the taxpayer and the minimums for descendants and ascendants are increased, as well as the minimum for disability of the taxpayer and the disability of ascendants and descendants.<\/p>\n TAX RATES<\/em><\/strong><\/p>\n The sections and rates are reduced. See tables here (hyperlink)<\/p>\n DEDUCTIONS<\/em><\/strong><\/p>\n Deduction for investments in habitual residence<\/strong><\/p>\n The existing transitional regime for acquisitions made prior to January 1, 2013 is maintained.<\/p>\n Deduction for economic activities<\/strong><\/p>\n The percentage applicable to the investment is reduced to 5%.<\/p>\n Deduction for donations<\/strong><\/p>\n It keeps.<\/p>\n Deduction for income obtained in Ceuta and Melilla<\/strong><\/p>\n The possibility of taking advantage of the deduction is conditioned on income from companies that effectively and materially operate in said territories.<\/p>\n Deduction for investment in newly created companies<\/strong><\/p>\n The deduction of 20 per 100 of the amounts paid for the subscription of shares or participations in newly or recently created companies is maintained, fulfilling certain requirements.<\/p>\n Deduction for large family or disabled dependents<\/strong><\/p>\n Taxpayers who carry out an economic activity on their own account or on behalf of others for which they are registered in the corresponding Social Security or mutual society regime may reduce the differential tax rate according to the deductions established for descendants and ascendants with disabilities, and large families.<\/p>\n Deduction for Political Parties, Coalitions or Groups of Voters<\/strong><\/p>\n A new deduction of 20 percent of affiliation fees and contributions to Political Parties, Coalitions or Voter Groups is established, which replaces the previous reduction.<\/p>\n deductions that disappear<\/strong><\/p>\n Deductions are eliminated for company savings accounts, obtaining income from work and economic activities, and for renting a habitual residence (except for leases entered into before January 1, 2015).<\/p>\n International tax transparency<\/strong><\/p>\n Special regime for "impatriates"<\/strong><\/p>\n Capital gains due to change of residence (\u201cexit tax\u201d)<\/strong><\/p>\n reporting limits<\/strong><\/p>\n The limit for not filing a declaration in certain cases is established at 12,000 euros<\/p>\n Formal obligations of taxpayers<\/strong><\/p>\n The information that taxpayers who are holders of a protected patrimony must provide is expanded, to include in the provisions made during the fiscal year, the expenditure of money and the consumption of fungible goods,<\/p>\n withholdings<\/strong><\/p>\n The withholding scales in 2015 and 2016 are as follows:<\/p>\n Scale to be applied in the 2015 financial year:<\/strong><\/p>\nGENERAL RULES<\/h3>\n
WORK PERFORMANCE<\/h3>\n
REAL ESTATE CAPITAL YIELD AND REAL ESTATE ALLOCATIONS<\/h3>\n
INCOME ON MOVABLE CAPITAL<\/h3>\n
EQUITY GAINS AND LOSSES<\/h3>\n
INTEGRATION AND COMPENSATION OF REVENUE<\/h3>\n
OTHER MODIFICATIONS<\/h3>\n
TAX MANAGEMENT<\/h3>\n