Start of the deadline for filing Personal Income Tax, Wealth Tax and Solidarity Tax on Major Fortunes for the 2022 tax year

The income and wealth tax campaign for the 2022 tax year starts today, and taxpayers can now file their tax returns. The deadline for filing is 30 June, although the deadline for direct debit tax returns is 27 June.

1. News in tax processing

This year no major changes were introduced with regard to tax processing, but the following points can be highlighted:

• Capital gains and loses derived from the transfer of other assets: Classification into three new positions: (1) transfer of immovable property and rights in rem over immovable property; (2) transfer or exchange of virtual currencies by individuals; and (3) residual nature for "other assets".
• Other capital gains and losses that do not derive from the transfer of assets: Three new boxes have been added to record the aid corresponding to the Bono Cultural Joven, the public rental aid and the aid of 200 euros for people with a low level of income and wealth.
• Deductions in the tax base for inputs and contributions to social welfare systems: a box has been introduced in the "Income from work" section to record the amounts contributed by the company and Annex C.3 of the form has been restructured to adjust it to the application of excess contributions and company contributions.
• Deduction for energy rehabilitation works in buildings used predominantly for residential purposes: Annex C.4 includes a section to include the excess of the amounts paid for these deductions pending application for future years, as the time period for applying this deduction has been extended to 31 December 2024.

2. Legal developments

The most important change is the new reduction of deductions for contributions to private pension funds from €2,000 to €1,500 per year. However, the maximum contributions to company pension funds have been increased to 8,500 euros (8,000 euros in 2021).

On the other hand, two new exemptions are introduced in article 7 LIRPF, a) exemption of the child support supplement for beneficiaries of the minimum living income and b) exemption of subsidies and aid granted for energy rehabilitation actions in buildings.

In addition, the obligation to report on the transfer of the use of dwellings for tourism purposes is reintroduced.

Finally, attention should be drawn to the extension of the scope of application of the maternity deduction to women who are in a legal situation of unemployment as of 1 January 2020 due to the suspension of the employment contract, as well as to self-employed women who receive a cessation benefit due to the suspension of the economic activity performed.

3. Solidarity tax on large fortunes

The most important change is the introduction of a new tax, the Solidarity Tax on Major Fortunes, which has to be declared between 1 and 31 July 2023. Approval of form 718 is still pending.

At Lozano Schindhelm we check if you are obliged to file your income tax and / or wealth tax return and, if necessary, we calculate, prepare and file the tax. All this in your language and with high quality standards, guaranteed by more than 15 years of experience in tax advice for residents and non-residents.

Autor: Fernando Lozano
Autor: Claudia Cascant
Autor: Andrea Quiles