Today, the new tax reform is being debated in Congress, which may bring with it important measures for taxpayers who are affected by it, in the event of its final approval in the Plenary.
Among the measures that have been debated in this tax reform, the following stand out:
a) Tax cuts for SMEs and micro-SMEs: Progressive rates will be established to reduce the taxation of companies, with a significant reduction in the coming years.
b) Increase in capital income: the taxation of savings income in personal income tax (IRPF) will be increased from 28% to 30%.
c) Tax relief for recapitalisations: Companies, both large and small, will be able to reduce their corporate income tax base depending on their recapitalisation. This relief may be up to 30% of the increase in equity if the company increases its workforce by 10%. The reduction could be up to 20% of the tax base, or 25% in the case of SMEs.
d) Reductions in corporate tax: progressive reduction in the tax rate for companies with a turnover of less than one million euros.
Other measures that have been debated during these days and that will have to await final approval are the tax on energy companies, the tax on banks and the tax on tourist rentals, among others.
At MDG Advisors we will keep a close eye on the latest developments in the tax reform project to find out which measures are finally approved and to analyse how they will affect the taxation of our clients and anyone else who requests it. Do not hesitate to contact our MDG Team for more information.
Jesús Raya Zamora.
