The 2024-2025 Income Tax Campaign in Spain introduces a series of significant changes that will affect taxpayers. Below, we detail the most relevant updates, their impact on tax returns, and the proper approach citizens should follow.
More ways to pay your income tax return
One of the main improvements in this campaign is the expansion of payment methods for those whose tax return results in an amount payable. In addition to traditional methods such as electronic payment and direct debit, new options like credit card payments and Bizum have been introduced. These alternatives aim to make it easier for taxpayers to meet their tax obligations, offering greater flexibility and convenience.
New channels for filing your tax return: easier and more accessible
To make the filing process easier, taxpayers will now be able to file their tax return by phone starting May 6, with appointments available from April 29. This option complements the traditional in-person assistance at the Tax Agency offices, allowing taxpayers to choose the method that best suits their needs.
Filing obligation for unemployed individuals
One of the most notable changes in this campaign is the requirement for unemployed individuals to file an income tax return, regardless of whether they meet the established minimum income threshold. In previous campaigns, only those earning over €22,000 annually with a single payer, or €15,000 with multiple payers, were required to file. This measure aims to ensure greater fairness and control within the tax system.
Increase in the income threshold for multiple payers
The income threshold for taxpayers with two or more payers is raised from €1,500 to €2,500. This adjustment reduces the administrative and tax burden for workers with modest incomes and simplifies tax management.
Changes in deductions for rental and homeownership
- Landlords: The deduction on net rental income from a primary residence increases from 20% to 30%, and can reach 50% if the property is located in a high-demand area or rented through public programs.
- Tenants: The general deduction of 20% with a limit of €1,600 remains, which can be increased to 35% (up to €2,800) for vulnerable groups such as young people, single-parent families, and individuals with disabilities.
- Other changes: It is now possible to deduct as an expense the insurance premium for non-payment and to access deductions for home renovation.
Promotion of the energy transition
To promote sustainability, tax deductions are implemented for the purchase of zero-emission vehicles:
- 5% deduction for the purchase of an eco-friendly vehicle.
- 10% deduction if an old vehicle is turned in for scrapping.
- Companies: 35% deduction for investments in the decarbonization of production processes.
Measures for work-life balance and family support
- Companies: Higher deductions for work-life balance measures (leave, reduced working hours without salary reduction, free childcare).
- Workers: €1,200 deduction for women and €1,500 for men returning to work after caring for children under three years old.
Promotion of Voluntary Social Welfare Entities (Epsv)
To encourage long-term savings:
- Tax exemption on EPSV withdrawals if received as a monthly income.
- If a lump-sum withdrawal is chosen, 40% will be included in the general tax base.
- Deductions are increased for companies that make contributions to these plans.
Increase in taxation for capital income over €300,000
A higher income tax burden is established for capital income exceeding €300,000, aiming to increase the progressivity of the tax system and ensure a greater contribution from higher incomes.
Adaptation of the Corporate Tax for Multinationals
A minimum 15% corporate tax rate is set for multinationals, aligning with international guidelines to prevent tax avoidance and ensure a fair contribution from large corporations.
The changes introduced in the 2024-2025 Income Tax campaign reflect an effort to adapt the tax system to current needs, providing greater ease for taxpayers and promoting tax fairness. At Vázquez and stainedn, we are ready to advise you at every step of your tax return process. Contact us and optimize your return to take advantage of all available tax benefits!
