The famous phrase already said Benjamin Franklin: "In this world there are only two sure things: death and paying taxes." And he was right, because despite everything that has happened in recent times (financial, economic, political crises, pandemics, wars, inflation, etc.), one more year, specifically last April 6, as if nothing If this had happened, the 2021 Income campaign started.
Therefore, once again, it is time to settle accounts with the Public Treasury and, for this, it is worth keeping in mind both the fiscal developments that affect this campaign itself and some of the "classic" fiscal aspects that have been present for several years. years but that we cannot ignore. What are the main novelties?
Deductible expenses in leased properties
In the case of amounts owed by the lessee, for the years 2020 and 2021, the period for them to be considered as a doubtful balance and can be deducted from the yield is reduced from 6 to 3 months. A new provision has also been approved, which allows the reduction in rental income for the rental of premises to certain entrepreneurs to be deducted as an expense during the 2021 tax period.
Regarding the amounts destined for amortization, in the case of real estate acquired free of charge
In case of donation or inheritance, the Supreme Court in its Judgment no. 1130/2021, of September 15, has established as an interpretive criterion that, to determine the applicable depreciation, the paid acquisition cost will be the value of the acquired asset assigned in the Inheritance or Gift Tax or its verified value (excluding from the calculation the land value), plus the inherent expenses and taxes.
Reduction for housing rental
This 60% reduction on the previous net yield can only be applied by the taxpayer in his self-assessment, without its application on the yield calculated during the processing of a verification procedure. In addition, it is convenient to verify that, indeed, its application proceeds. , since the Tax Administration does not admit it in cases of rentals for seasons, vacations or for tourist purposes.
Cryptocurrencies
This year one of the main novelties in the model is that a specific section has been enabled for capital gains or losses produced by operations carried out with virtual currencies. The way of declaring has not been modified, since it has always been mandatory to include them in the Declaration in the section of capital gains or losses, however, as of this year a specific box (1626) has been enabled for this type of transmissions.
Reductions for contributions and contributions to social security systems
In general, there has been a drop in the maximum limits provided for contributions and contributions to these systems that entitle a reduction in the general tax base:
- 30% of the sum of the net income from work from economic activities for the year.
- €2.000 per year (before €8.000), extendable by €8.000 more if the increase comes from business contributions.
With regard to contributions to social welfare systems in which the taxpayer's spouse is a member, mutualist or holder, the maximum tax limit for these is reduced from €2.500 to €1.000 per year.
assessment scale
The general tax scale is modified by introducing a new section from 300.000 euros with a tax rate applicable to the state rate of 24,50%. The savings scale also undergoes changes, adding a new section from 200.000 euros with an applicable tax rate of 26%. Variations of this type also occur for IRPF taxpayers residing abroad and those covered by the special tax regime applicable to workers displaced to Spanish territory.
Deductions for energy efficiency works
For 2021, there are three new state deductions for energy efficiency works in taxpayer homes:
- A 20% deduction (with a maximum of 5.000 euros) for works that reduce the energy demand for heating and cooling by at least 7%.
- A deduction of 40% (with a maximum of 7.500 euros) of the amounts paid in works to reduce the consumption of non-renewable primary energy by 30% or to improve the energy rating to grade A or B.
- A 40% deduction for communities (with a limit of 15.000 euros) when works are carried out to reduce non-renewable primary energy consumption by 30% or to improve energy efficiency to level A or B.
Exemptions in aid for natural disasters
Through Filomena and the volcano of La Palma
Autonomous deductions
Finally, we cannot forget that each autonomous community has various deductions applicable to its territory and for the 2021 financial year. In the case of the Valencian Community, we have deductions related to birth, donations, rental of the habitual residence, school material , nursery expenses, reconciliation of family and work life, investments in electrical self-consumption installations in the habitual residence and for investment in recently created companies.
We recommend that you seek advice to be able to access, in your case, all the deductions that may correspond to you. Contact Tomarial for any questions.
Miguel Angel Molina
Partner Fiscal Area Tomarial
