The setting of a minimum rate of 15% in Corporation Tax, the freezing of the module system by which a large part of SMEs and the self-employed pay taxes and the reduction of individual contributions to pension plans with the right to deduct are some of the Fiscal measures that will enter into force on January 1 with the General State Budget Law of 2022.
Brussels presents the European law to set the minimum tax of 15% to multinationals
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Looking ahead to 2022, it is also necessary to take into account in tax matters that the annual income tax return for 2021 that will be presented until next June will incorporate the effects of the increase in the highest sections of income from work and capital that were included in the 2021 PGE.
Despite the fiscal “adjustments” embodied in the 2022 PGE, the truth is that the Government is waiting for the 17 members of the group of experts currently addressing the tax reform to present their conclusions before February 28, 2022. The objective of the Government is to analyze these conclusions as of February 2022 for their entry into force, at the latest in 2023. And all this, following a path of fiscal consolidation that in turn underpins economic growth.
The focus of the group of experts for tax reform is the performance of some taxes, such as Corporation Tax, in addition to those tax figures linked to wealth, such as Successions, Patrimony and Donations.
Meanwhile, the new public accounts include as a ‘star’ measure the establishment of a minimum rate of 15% in Companies that will affect companies with a turnover of more than 20 million euros or that constitute a consolidated group, an adjustment in line with the consensus international that is being forged in the OECD and that has already been ratified by the G-20.
The new minimum rate in Corporation Tax of 15% on the tax base will have an impact of just “slightly less” than 50 million euros in the collection of next year, the first year of its validity.
This measure, whose impact the Government had estimated at about 400 million euros, will have its main effect in 2023, in the settlement of the tax, and not in the installment payments of next year.
Pension plans
The General State Budgets (PGE) for 2022 also contemplate a reduction of 500 euros in the maximum individual contribution to private pension plans with the right to deduction in personal income tax, which will go from 2,000 euros to 1,500 euros per year from 1 January.
On the contrary, the maximum contributions to business plans with the right to deduct will rise 500 euros, from 8,000 euros to 8,500 euros by 2022. Between them, the total contribution with tax benefits remains at 10,000 euros per year.
In two years, the maximum contributions to individual plans have experienced a cut of 6,500 euros, since the PGE of 2021 already introduced a reduction from 8,000 euros to 2,000 euros, which will stand at 1,500 euros next year, online with the recommendations of the Toledo Pact.
Registration tax
On his side and outside the PGE of 2022, the registration tax will be increased as of January 1, 2022, after the Congress of Deputies approved the freezing of it last June, following an amendment to the PDeCAT. All this with the votes in favor of the PP, Vox, Esquerra Republicana, Ciudadanos, PRC and PDeCAT itself, while the PSOE and Unidos Podemos voted against and the PNV abstained.
On January 1, 2020, the new European WLTP emissions regulation, approved in 2018, came into force, modifying the gas measurement parameters of vehicles making them more stringent.
To replace the NEDC (New European Driving Cycle) regulation, the WLTP arrived with the aim of making the consumption and emissions approved by vehicles more in line with reality. In Spain, this tax is linked to the carbon dioxide (CO2) emissions that each car homologates. By changing the legislation and making it stricter, the cars register a higher figure, so they can jump the section in the rate and have to pay more for the registration tax.
Thus, until December 31, 2021, the models that emit less than 144 grams of CO2 for each kilometer traveled do not pay the registration tax. Previously, cars that emit less than 120 g / km were exempt from paying this fee.
Vehicles that emit between 144 and 192 grams of CO2 pay 4.75% of this tax (previously 120-160 grams), while 9.75% are paid by those customers with cars that emit between 192 and 240 grams of CO2 (previously, in the 160-200 grams).
The last section, those vehicles that expel more than 240 grams, must pay 14.75%, while previously those that emit more than 200 grams of CO2 per kilometer paid this percentage.
New appraisal of the cadastre
On the other hand, and although it is not included in the PGE of 2022, from January 1 the way of calculating the tax base of taxes on Wealth, Inheritance and Donations (ISD) and Patrimonial Transmissions and Documented Legal Acts (ITP) has changed. ), which will be linked to the reference value of the Cadastre.
This modification, included in the Law on Prevention and Fight Against Fraud Measures, is due to the need to solve the management problems of these taxes, caused by the litigation that had the tax base defined as real value.
In this sense, the norm establishes that the reference values will not exceed the market values. For this purpose, the reduction factors will be applied, which place the coefficient at 0.9, both for urban and rustic properties.
Therefore, the reference value will only affect whoever acquires a property as of January 1, 2022 and at the same time has to pay taxes, either for the Tax on Patrimonial Transmissions and Documented Legal Acts, or for the Tax on Inheritance and Donations .
Likewise, it may only affect the Wealth Tax in what refers to properties acquired after the entry into force of the rule, in no case does it affect the pre-existing heritage.
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