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Start of the 2017 Personal Income Tax Campaign

Today starts the 2017 Income Tax Campaign. In this regard, taxpayers of the Personal Income Tax can summit, from this day on, their income tax return. The deadline for its presentation has been extended until July 2, 2017. However, when paid through direct debit, the term ends on June 27.

News on the proceeding

The main change of this year’s personal income tax campaign is the option of downloading and submitting documents and income tax returns via an app offered by the Spanish Tax Agency (Agencia Tributaria).  However, it is highly recommended to check and to update the information prior to sending it. 

We recommend to check the veracity of the information, if all received payments have been listed, as well as if the possibility exists of applying for autonomic deductions such as (among others, those concerning housing and maternity,), minimum familiar income, etc.

Legislation changes

These are some of the main changes of the legislation: 

- From January 1, 2017, the amount obtained by the transfer of subscription rights coming from securities admitted to trading will be taxed as a capital gain for the transferor; instead of decreasing the acquisition value of the securities as it was the case before.

- The forty-fifth Additional Provision has been approved, which beneficially regulates the tax treatment of the sums received as a consequence of the payback of the “floor clauses”.

- The descendants who are under custody according to a court order will also benefit from the assimilation in regards to the minimum familiar income.

-Art. 44 of the IRPF Regulations has been amended, in order to clarify that the formation expenses for the training or retraining of personnel, financed by other companies or entities other than the employer, do not result in remuneration of any kind.

The legal team of Lozano Schindhelm individually checks if its clients must submit the income tax return and calculates, prepares, and submits the taxes. This service is offered in the client’s language and always according to the highest quality standards, resulting from 10 years of experience in tax consultancy services for both residents and non-residents.