Almost 1.1 million Canarians are called to present the Income Tax that starts this Wednesday

Starting the day after tomorrow, the 3rd, taxpayers will be able to confirm, modify and submit the personal income tax return only online and the forecast is that in 48 hours, by Friday, the refunds will begin to arrive. The campaign will run until July 1 and it contains some, few as far as the Canary part is concerned. Regarding the tax at the national level, there is some change.

This year, as in previous campaigns, in general terms, taxpayers with income exclusively from work up to an amount of 22,000 euros per year are not obligated. However, this limit is reduced if the income comes from more than one payer (with exceptions), or also when the payer is not obliged to withhold and when the income is subject to a fixed withholding rate. In this case and as a notable novelty to take into account, The limit has been raised to 15,000 euros per year, 1,000 more than in previous rentals.

It should be noted that those people who receive the Minimum Vital Income (IMV) must submit the declaration even if they do not reach the stipulated quantities for the obligation to present the Income.

An important detail this year is that It will be the first campaign in which only declarations submitted electronically will be accepted. The AEAT has provided several help services – in person and by telephone – but it can no longer be filled out by hand. Digitization reaches 100% this year.

Maternity deductions

Another notable novelty of this year’s Income campaign has to do with working mothers. These maintain the deduction of 100 euros per month but The deduction assumptions are expanded to mothers with children under three years of age so that they are not only entitled when they are working but also if they are unemployed and collect unemployment benefits or register with Social Security at any subsequent time, with a minimum of 30 days of contributions.

In this case, the amount for that month will be increased by 150 euros. Daycare deductions also improve, by including those centers that do not have nursery school qualifications and modifying the limit, which will be the amount of the expense paid.

Income from work and economic activities with simplified direct estimation is increased by the applicable reduction, which for practical purposes, It’s as if they had earned less. The savings in the end will be just under 100 euros. They will be 6,498 euros (previously 5,565 for income from work and 3,700 for economic activities) if the income is equal to or less than 14,047 euros (previously it was 13,115 for RT and 11,250 for AE).

Cryptocurrency purchases and sales, income from a vacation home and profits obtained on sales made through digital platforms such as Wallapop or Milanuncios, must also be declared. as long as the sale price was higher than the profits.

Also to be taken into account are the deductions of 15% of the price of electric cars over a limit of 20,000, thus The maximum savings is 3,000 euros. Only those who purchased their vehicle on or after June 30, 2023 can benefit from this deduction.

You also have the right to deduction if amounts are paid to install electric car charging infrastructure from June 30 and it is 15% over a limit of 4,000, which gives a maximum deduction of 600 euros, as explained by Orlando Luján, from the firm Luján Asesores.

All self-employed workers, even without income, obliged to declare

The self-employed are other groups that will experience greater novelty. Previously, the obligation to declare was based on annual income of 1,000 euros. Since this campaign, even if you have only been registered with Social Security for one day and have no income, the self-employed are required to submit the declaration. This campaign, the self-employed will be able to increase their contributions to pension plans above the general limit of 1,500 euros which can reach up to 5,750 euros with the right to deduction. Expenses that are difficult to justify are also raised from 5% to 7% and self-employed workers subject to modules (objective estimate) may reduce performance by 10% given the economic situation.

The tax on savings from the sale of real estate or shares, among others, has also been modified. Previously, up to 150,000 euros was taxed at 23%; From here there was only one more scale, 26%. For this campaign, a rate of 27% is set for profits of 200,000 euros and 28% for 300,000 euros.