The 2018 Revenue Campaign begins and with it come the headaches for thousands of citizens. Forget about paperwork and entrust your accounts with the Treasury to a registered gestor administrativo, a highly qualified professional who will answer for you in the event of any incident.
The 2018 Income Tax Campaign began on April 2 for presentation by internet and telephone but taxpayers will have until July 1 to submit their tax return according to the calendar prepared by the Tax Agency.
As every year, doubts arise about the main changes and novelties. This campaign the most significant changes will affect some specific groups such as large families and low incomes. According to the manual published by the Tax Agency, the most important novelties are:
– The limits for the obligation to file a tax return have changed. In this year, taxpayers who only have one payer are exempt from filing the income tax return if they receive less than 22,000 euros per year, while if they have two or more payers the new threshold is, in general, 12,643 euros (until now the limit was 12,000 euros).
– Income linked to maternity and paternity benefits received in 2018 is exempt from taxation, according to the Supreme Court ruling last October.
– Increases the deduction for maternity by 1,000 euros (the total amount goes to 2,200 euros), provided that the taxpayer suffers childcare expenses or education centers authorized by a child under three years.
– Deductions for large families are increased. The increase is 600 euros per year (50 euros per month), but in 2018 only applies from August to December, so the maximum deduction will be 250 euros.
– It increases the deduction for investment in newly created companies. The deduction goes from 20% to 30%, with a limit of 60,000 euros (until now the limit was 50,000 euros).
– Taxpayers with incomes below 16,825 euros will benefit from a reduction in their quota, which amounts to 5,565 euros per year for those who earn less than 13,115 euros. For those who earn more than that amount, the reduction will be proportional, although in this year the reduction only takes effect from 5 July 2018, so the final amount will be reduced depending on a series of adjustments.
– The deduction of the income obtained in Ceuta and Melilla increases from 50% to 60%.
– The presentation in paper in the banking offices disappears when the result is to enter. In these cases, the presentation must always be done online. For the payment there is the possibility of domiciling or obtaining a payment card to make the payment in the financial entity.