The declaration of income and wealth always raises many doubts, especially with regard to applicable deductions and payments, which we try to resolve below:
Questions and answers about the 2023 income and wealth tax return.
How much can I be paid for untaxed mileage?
From this year onwards, the tax-deductible mileage allowance is now 0.26 euros/km. Remember that it was 0.19€/km. Also exempt from taxation are the expenses for tolls and car parks that are justified.
From what income am I obliged to file a tax return?
From €15,000 with 2 or more payers and provided that the second and subsequent payers together exceed €1,500 (in 2022 it was €14,000). From €22,000 when there is only one payer.
If I have to pay, how can I pay my income tax?
If you submit it before 26 June, you can pay it by direct debit, or you can make a telematic payment at the same time as you submit it through the NRC or by printing out the payment document to pay it in a bank.
When will I get my tax refund?
When you request a refund, the Inland Revenue has a period of 6 months from 1/07/24 to do so. From that moment on, interest for late payment is calculated in our favour.
Can I have my income tax paid by direct debit into a foreign bank account?
Yes, it is possible to pay your income by direct debit through banks belonging to the Single Euro Payments Area (SEPA Area).
What is the special tax regime for workers posted to Spanish territory?
This is a regime that allows people who move to Spain for work purposes to be taxed under the Non-Resident Income Tax (IRNR) rules. For practical purposes , this means taxation at a rate of 24% up to an income of 600,000 euros.
Who can benefit from the special regime of the Non-Resident Income Tax (IRNR)?
Workers, nationals or foreigners, who have moved to Spain for work purposes and who have not been resident in Spain for the last 5 years.
Workers who travel to Spanish territory to work remotely using exclusively computer or telematic means and systems (digital nomads).
Administrators, irrespective of their percentage shareholding in the company’s share capital.
What are the personal income tax rates applicable to savings income?
19% up to 6.000€.
21% between 6.000 and 50.000€.
23% between €50,000 and €200,000
27% between €200,000 and €300,000
28% above 300.000€ of gain.
Has the minimum exemption for irregular income been increased?
What has changed is that the exemption for the delivery to employees of shares or holdings in the company itself or in other group companies (stock options) in the case of emerging companieshas been increased from 12,000 to 50,000 euros.
Has the taxation of income obtained from fund management changed?
Since 1/1/23, income obtained by administrators, managers or employees of venture capital companies and funds, when it derives directly or indirectly from participations, shares or other rights, success fees, which produce special economic rights in any of the aforementioned companies,is considered as earned income.
Can a self-employed person deduct the contributions they pay to social security from their income tax?
Yes, from 1/1/23 all self-employed workers will pay contributions according to their income obtained, and can choose a base determined according to their estimated income, or a minimum base that will be regularised according to the annual income obtained and communicated by the Treasury from the following year for each self-employed worker.
Are there any changes to the deduction for maternity in the 2023 income tax?
Yes, it has been improved from 2023, and it can be applied, in addition to working women who are registered with the social security at the time of the birth of the child, both women who at that time are receiving unemployment benefit and those who are not registered at the time of the birth of the child, but who are registered at any time thereafter in the corresponding social security or mutual insurance scheme, with a minimum period of 30 days of contributions.
If you have any queries that have not been answered in this article, you can write to us at contacto@metricson.com or fill in the following form so that we can help you with you 2023 income and wealth tax return.
About Metricson
Metricson is a pioneering law firm providing legal services to innovative and technology companies. Since its inception in 2009, it has advised more than 1,400 companies from 14 different countries, including startups, investors, large corporations, universities, institutions and governments.
If you would like to contact us for any aspect of tax advice, please do not hesitate to write to us at contact@metricson.com. We look forward to talking to you!