News about VAT simplified regime

On 18 of November 2015 Order HAP/2430/2015, of 12 November, was published in the Official State Gazette, setting forth for the year 2016 the objective assessment method for Personal Income Tax and the simplified special regime for Value Added Tax.
This following new features are included:
New general excluding parameters:
* Turnover earned in the previous year exceeding 250,000 euros for the set of economic activities, excluding those relating to agricultural, livestock and forestry activities. All ...

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Deduction for large families

Beneficiaries:
* Taxpayers with the right to the tax-free threshold deduction for descendants or ascendants with disabilities (Articles 58 and 59 of the Personal Income Tax Act, respectively) and ascendants or brothers who are orphans with no farther and mother, who are part of a large family, or the new figure of ascendant who is legally separated or not linked by marriage with two children, through which they have the right to the full amount of the tax-free threshold set out in Article 58. of the Personal Income Tax Act and ...

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NEWS ABOUT CORPORATION TAX

* Extension of application of approved special repayment plans
Article 1.1.1 adds a new section 9 to Article 5 of the Regulations on Corporation Tax, according to which repayment plans which have been approved can be applied to other capital assets of a similar nature when the repayment begins within three years counted from the date of notification of the agreement approving the repayment plan, provided that the physical, technological, legal and economic circumstances governing the approved repayment method are substantially unchanged ...

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NEWS ABOUT PERSONAL INCOME TAX

This royal decree introduces modifications basically to adapt its text to modifications incorporated in other legal texts that regulate this tax. They include those added to legislation via Act 14/2013, of 27 September, to support entrepreneurs and their international presence.
With effect from 1 January 2013 the following modifications have been introduced in the Regulations governing Personal Income Tax specified in Royal Decree 439/2007, of 30 March ...

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