The Tax Agency has already published the new taxpayer calendar to make the declaration of the Income corresponding to the income obtained in the year 2021. As every year, the Income Tax and Patrimony Campaign of 2021 has several Key dates marked in red. In addition, this time there are some novelties, such as the increase in the tax for income from 300,000 euros and for assets of more than 10 million.
The Income Tax return, marked again by the coronavirus pandemic, can be presented in several ways: online through the Tax Agency website, by phone or in person.
For the presentation of the online statements, a medium that is already used by nine out of ten contributors, the campaign will start next 6 of April.
If the taxpayer wants to prepare the return in a ordinary, the period will be extended between June 1 and 30.
In case of opting for the via telephone, the first business day is May 5 and until June 30. In this mode, it is the Tax Agency that will contact the taxpayer.
What’s more, throughout the month of June, coinciding with the ordinary period of the campaign, taxpayers may submit their return in person in the offices of the Tax Agency. With the result to enter and with direct debit, the term ends on June 27.
Main novelties
The main new features of the personal income tax for 2021 contemplate the increase of two points of the state rate that taxes the income from work of more than 300,000 euros, up to 47%, and three points for capital income of more than 200,000 euros, up to 26%, which will affect a reduced number of 36,194 taxpayers (0.17%), with an impact of 491.4 million euros (144 million in 2021 and 346 million in 2022), according to the estimates of the Ministry of Finance.
In addition, in 2021 the tax deductions for private pension plans individual to 2,000 euros as maximum contribution, while the joint reduction limit (participant and company) was raised from 8,000 to 10,000 euros in business plans to enhance business contributions and correct the “regressivity” of these benefits, according to the Government . The measure will bring a collection of 580 million in 2022.
As for the Wealth Tax, last year the Budgets introduced an increase of 1% for assets of more than 10 million euros, up to a rate of 3.5%.
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