TYPES OF DEDUCTIONS APPLICABLE IN RENT

Fee deductions: Once the full, state and regional fees have been determined, the next phase is to determine the liquid, state and regional fee.

For this, they must be applied, on the amount of the integral quotas,  the following four groups of deductions:

1.- DEDUCTIONS FOR INVESTMENT IN PRIVATE HOME

2.- DEDUCTION FOR INVESTMENT IN NEW OR RECENTLY CREATED COMPANIES

3.- GENERAL DEDUCTIONS OF STATE REGULATIONS

4.- AUTONOMOUS DEDUCTIONS

1.- DEDUCTIONS FOR INVESTMENT IN PRIVATE HOME:

With effect from 01.01.2013, the deduction for investment in habitual residence and consequently, its regional section is eliminated. However, a transitory regime is established that establishes that certain taxpayers may continue to make the deduction. (Ask us to find out if your situation falls within the exception)

Here are the famous ones Floor clauses:

As we well know, Floor clauses They have been declared definitively abusive by the Court of Justice of the European Union, so financial institutions must return the excess interest that their clients have overpaid, retroactively.

It is clear that the financial compensation that a taxpayer receives is not subject to Income Tax, since it is not a performance but a return for having paid more.

However, they do indirectly affect late-payment interest received, which will mean a capital gain and, in addition, the return of interest paid in excess that gave rise to the application of the deduction for investment in habitual residence.

What does this mean? Well, the taxpayer must add the amounts improperly deducted (state and regional) in the fiscal year in which the requirements have been breached, without forgetting the late-payment interest that the bank must pay since they are considered compensatory interest as capital gains.

2.- DEDUCTION FOR INVESTMENT IN NEW OR RECENTLY CREATED COMPANIES:

Taxpayers can deduct a % of the amounts paid for the subscription of shares or participations in newly or recently created companies carried out as of 29.09.2013.
That is, if during the previous year, you have invested in newly created companies or you have created a company yourself, this may be one of your applicable deductions.

 3.- GENERAL DEDUCTIONS OF STATE REGULATIONS:

– Deductions in economic activities.
– Deductions for donations and other contributions.
– Deductions for income obtained in Ceuta and Melilla.
– Deductions for actions for the protection and dissemination of the Spanish Historical Heritage and of the cities, complexes and assets declared World Heritage.
- Deduction for rental of the residence.
(It is subject to various requirements, ask us about your specific case)
– Deduction applicable to family units formed by tax residents in Member States of the European Union or the European Economic Area.

4.- AUTONOMOUS DEDUCTIONS:

The communities may approve deductions applicable to the full regional quota for personal and family circumstances, non-business investments, application of income and subsidies and non-exempt public aid received from the Autonomous Community.

Do you think you could apply any of these deductions but you are not sure?

At Drisar Asesores we make it easy for you, ask us about any questions you have.

Do you have questions or do you have more doubts? Do not hesitate and contact us we will give you all the answers.

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