New Fiscal 2011 - The pain of this 2011 pocket preceded by the slope of January and will increase throughout the year, especially for those who suffer from the
new tax in 2011, among which the deduction for primary residences for people who have revenues of over € 24,000 per year and an increase of maximum rate of income tax on high incomes. Many will be to do their utmost to save and can afford the payments.
With the start of the year, the tax department of KPMG Abogados area presented a report detailing the new fiscal 2011, which will be important to know:
Changes affecting the Company:
-Corporation Tax: In 2010 it had reduced the different rates that apply to deductions for training, for export activities, and other environmental investments, now in 2011 straight away.
- Amortization: Royal Decree-Law 13/2010 allows the modification of the DA TRLIS eleventh, allowing accelerated depreciation must not comply with the maintenance of employment in certain investments made since January 1, 2011 and having as limit 2015.
-In regard to the SME sector since the year 2011, states that the turnover of the previous year for which you can apply the special tax treatment of SMEs will spend 8 to 10 million euros.
Besides the fact that in certain cases, those companies that ceased to be SMEs, will continue the implementation of the scheme for the next three tax periods.
On the other hand rises from € 120,202.41 to € 300,000 the amount of the first stretch to ascribe to the reduced rate. On the side of micro-these are companies whose turnover is below the 5 million euros, and that has a staff of fewer than 25 employees and maintain employment, pay taxes on 20% for the base between 0 and 300,000, and 25% for the rest.
- Value Added Tax (VAT). Be eliminated by January 1, 2011 the above obligation to issue autofactura with regard to the reverse charge.
In addition to regulating certain types of changes in VAT law, to extend the application of special rules related to the location of gas deliveries. In addition to extending the special rules for gas and electricity to heat and cold.
Extending the deadline to apply VAT on the non-established and resident in the Community, Canary Islands, Ceuta or Melilla, until March 31, 2011.
Also adjusts the VAT Regulations to changes in the Royal Decree Law 6 / 2010 of April 9, in order April 14, 2010, regarding the amendment of the tax base of VAT credits that are wholly or partially uncollectible .
In addition to exemptions for supplies of goods, imports and services to international organizations that are recognized by Spain or the staff of these agencies have diplomatic status.
- Related party transactions: they are reduced with respect to cases in which there is the obligation of documenting transactions, having from now on a number of new exceptions.
- Fiscal consolidation. Be reduced from 75% to 70% the minimum percentage required for participation in the subsidiary to consider the tax consolidation regime, under the condition that participation is given by a listed company.
-In regard to Notification, is established from January 1, 2011, the character of obligation that companies receive through electronic notices and communications from the State Agency for Tax Administration.
- Restructuring. By reducing the participation rate below 5% and not less than 3%.
- Technological innovation. Through the bill Sustainable Economy will rise to 12% deductions for technological innovation activities. Under certain circumstances will govern the environmental investment deduction, a deduction of 8%.
Changes affecting individuals:
-Tax Income Tax. As set out in sections, changing the scale of the tax lien also included two new sections, while the marginal rate rises to 45% overall, which applies to income of over 175,000.20 €.
- Birth: the deduction is eliminated by birth or adoption of € 2,500 is the baby check.
-Yields. The amount of income that applies the 40% reduction will be limited to 300,000 € per year.
-Deduction on housing, one of the most widespread in the media is being eliminated deductions for investments in residence for taxpayers in taxable year, whether similar or about € 24,107.20. with an annual maximum of 9040 euros for those with taxable income of 17,707.20 euros or less, thus being limited basis of the deduction as the tax base of each taxpayer.
It also established a transitional regime for houses that have been previously acquired December 31, 2010.
-Continuing the theme of housing, with respect to the Lease, will review the tax treatment of leases of real property for housing loans, for which the reduction applies to net income from real estate to be obtained from 50% to 60%.
To apply the 100% reduction of net income from real estate reduces the age of the tenant losing 35 to 30 years.
In addition to a transitional regime provided for extending the age of the tenant until the age of 35 years for contracts prior to January 1, 2011.
-The SICAVS in this issue, the Law of geological storage of carbon dioxide, does modify the taxation of income from operations, capital reduction and distribution of premium of actions taken by the SICAVS.
Because since last September 23, 2010, those revenues which have been obtained by partners or participants in such operations will be considered income from capital.
-Stock options. With respect to stock options, the Bill amends Sustainable Economy Personal Income Tax Law.
It should also recall that this 2011 is expected to establish a mechanism for rapid creation of companies, which allows to operate with a new society within a maximum of 5 days and reduced cost.
Via :
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