medidas fiscales 2023

 

On Thursday, the Spanish Government presented a package of tax measures that would come into force as of 2023. These measures include both structural changes and measures of temporary duration during the years 2023 and 2024. Below we summarise some of these measures.

 

  • Personal Income Tax (“IRPF”)

 

In order to reduce the tax gap between earned income (income from work) and capital income (investment income), an increase in the tax rates for savings (i.e. dividends, interest, capital gains, etc.) is planned. The following tables show the current rates as well as the new rates foreseen from 2023 onwards.

 

Current savings tax scale

 

Savings tax baseGross tax liabilityRemaining savings tax baseApplicable rate
0,000,006.000,0019 %
6.000,001.140,0044.000,0021 %
50.000,0010.380,00150.000,0023 %
200.000,0044.800,00and onwards26 %

 

Savings tax scale from 2023 onwards

 

Savings tax baseGross tax liabilityRemaining savings tax baseApplicable rate
0,000,006.000,0019 %
6.000,001.140,0044.000,0021 %
50.000,0010.380,00150.000,0023 %
200.000,0044.800,00100.000,0027 %
300.000,0071.800,00and onwards28 %

 

On the other hand, the income threshold for applying the reduction for obtaining earned income established in art. 20 of the Personal Income Tax Act will be increased to income of 21.000 euros gross.

 

An increase from 5% to 7% is also foreseen for deductible expenses that are difficult to justify for self-employed workers who pay tax under the direct estimation regime. Moreover, an additional 5% reduction will be applied to the net return of modules.

 

  • Corporate Income Tax (CIT)

 

With regard to CIT, the possibility of offsetting the tax losses of subsidiaries in groups taxed under the special tax consolidation regime will be limited to 50%. This measure shall be temporary.

 

On the other hand, the nominal corporate tax rate will be reduced temporarily from 25% to 23% for companies with a turnover of less than one million euros.

 

  • Solidarity Wealth Tax

 

A temporary tax will be applied to wealth exceeding three million euros. The tax rate will range from 1,7% to 3,5% according to the following table:

 

Wealth in EurosTax rate
Between 3 and 5 million1,7 %
Between 5 and 10 million2,1 %
More than 10 million3,5 %

 

In order to avoid double taxation, the amount paid for wealth tax will be deductible in the new solidarity tax.