The Minister of Finance and Public Administration, Elena Manzano, has registered this Wednesday, November 20, in the Assembly of Extremadura, the preliminary draft Law of the General Budgets of Extremadura for parliamentary processing.
These accounts are the highest in the entire history of Extremadura, with more than 8,309 million euros, more than 181 million euros compared to last year and that will provide new measures in tax matters.
The person in charge of making public the breakdown of these budgets has been the Minister of Finance and Public Administration, Elena Manzano, at a press conference after registering this bill that begins its parliamentary process without the necessary support for its approvalso partial amendments are awaited for approval.
As a novelty and with the approval of these budgets, the Government of Extremadura will apply 50% deductions in the regional personal income tax quota (IRPF) for new residents for three years, which will rise to 75% in the case of those under 36 years of age. This is one of the main fiscal measures, and it was already announced yesterday by the president, María Guardiola.
With these deductions Extremadura wants “attract people” to the communitybecause as Manzano highlighted, “we are obsessed with the fact that through taxation we can promote effective residence in our region”, arguing that it is not about “positive discrimination” but rather “a measure to compensate for the difficulties they face.” certain taxpayers when they reside in some territories or reside in others”.
Manzano has highlighted the 75% bonus on the full regional quota in order to attract “all that young talent”, many of them from Extremadura, he noted, who “given the impossibility of having access to employment” in the community have “left for other regions, but who want to return.”
Deductions for ALS patients
Regarding deductions, Manzano has referred to the two new deductions for patients diagnosed with ALSin order to “compensate for this very important expense” that those who suffer from this disease assume. The first of them amounts to 2,000 euros in the full personal income tax fee for patients, but can also be applied to spouses or de facto partners and ascendants and descendants who prove cohabitation.
Furthermore, and in order to “cushion” the impact of the regional aid of 2,000 euros on the income tax return, a deduction will be applied so that this amount does not have to be taxed.
On the other hand, a new personal income tax deduction of 20% is established for donations to cultural and artistic entities and for sponsorship of athletes with a limit of 500 euros.
Inheritances and Donations
As a novelty in the Inheritance and Donation Tax, the treatment received by groups I and II of kinship will be equated to groups III and IV. This measure aims to correct an “inequality” that “many taxpayers” suffer when a person with whom they have a “special bond” dies but is not considered a family relationship by the tax law.
To do this, a specially linked record will be created that includes particularities such as stepchildren, stepgrandchildren, stepfathers, stepmothers, stepgrandfathersor when the taxpayer proves effective cohabitation for three years with the deceased, regardless of relationship.
Finally, and in order to promote the active participation of society in the promotion of sporting activities, along with this deduction in personal income tax of 20% of the amounts donated, a bonus is also introduced so that the athlete does not have to pay taxes when receive them in the gift tax.
Home purchase deductions
These fiscal measures are added to those introduced in the decree law approved by the Government that will be validated this Thursday in the plenary session of the Assembly, by which The Property Transfer tax for the purchase of homes up to 180,000 euros is lowered from 8 to 7 percentwith an income limit of 28,000 euros in individual taxation and 45,000 in joint taxation. This rate drops to 6% when the buyer is under 36 years of age.
An extra 20% bonus is also contemplated for young people, large families, people with disabilities and single-parent families, standing at 5.6% and 4.8%.
Collection grows
The counselor has highlighted that there is “margin” for these new deductions after in the last year, with the first tax cuts promoted by the current Executive of María Guardiola, the community has registered a “very important” increase in collection, which is recorded, with the latest data provided by the State Tax Administration Agency, at 45.7 million euros more.
In this sense, he has pointed out that with the modification of the rate “42 million euros were returned to the people of Extremadura” so that in this year a “greater collection” has been received, so Extremadura has “margin to continue acting, because when the money is returned to taxpayers, this reactivates the economy and, without a doubt, provides greater revenue,” he stated.
With all this, Manzano has estimated at 1,025 million euros the “tax benefits” contemplated by this budget project that will be put “in circulation” in all tax figures.
#highest #Budgets #history #Extremadura #registered #Assembly #processing
