With the beginning of the year, it is appropriate to know what fiscal developments apply from 1 January 2016 and which have been approved by Law 48/15 of October 29, the State Budget are.

Developments in personal income tax

Direct estimation: For the purpose of calculating the net performance of economic activity in direct estimation, rising from 500 € to 1500 € the maximum amount of annual deduction applicable on premiums of health insurance worker for their own coverage, its spouse and children under 25 years old and live with him, each of them with disabilities.

Or objective assessment modules: The new limits for exclusion in this category and application for the years 2016 and 2017, are:

§ It is established as a new limit for yields unabridged volume in the previous year, € 250,000 for all activities except agricultural, livestock and forestry. For this calculation must take into account all operations, whether or not obligation to issue an invoice for them. The same limit is set for purchases of goods and services, except for acquisitions of fixed assets.

§ may remain in the regime of autonomous entrepreneurs and professionals, those whose volume of transactions for which are obliged to check not exceed the limit of € 150,000 per year.

Earned income in kind: It rises from 500 € to 1,500 € exempt income limit for insurance premiums disease of people with disabilities, whether the worker, spouse or descendants.

Deductions for donations: For donations aimed at patronage activities, 5% and increases the percentage deduction limit of this type of donations in income tax.

 Developments in the Corporate Tax

Exemption on corporate tax declaration: Stop being required to submit this statement to:

Those whose total income does not exceed 75,000 euros per year

When income corresponding to non-exempt income does not exceed 2,000 per year

Where non-exempt income are subject to withholding

Patent Box: the formula is modified to calculate the tax incentive of intangible assets by applying the so-called Patent Box. The aim is to promote economic growth through the creation of intangible assets such as patents, drawings, models, formulas, plans or procedures. the tax base of corporate income tax is reduced by 60% the amount of income coming from the sale and / or transfer of intangible assets, paying taxes, therefore, only 40% of the income generated by this concept.

It also establishes a transitional regime applicable to:

Disposals of right of use or exploitation, signed prior to September 27, 2013, may choose to apply in all tax periods remaining up to the completion of the contracts, the arrangements provided for in article 23 of RDL 4 / 2004. The choice will be made in the period 2016 statement.

Transfers the right of use or exploitation carried out from September 27, 2013 until June 30, 2016, may apply the system provided in the Tax Act in effect on January 1, 2015. The option must be done in the 2016 statement.

Transmissions intangible assets incurred from 1 July 2016 to 30 June 2021, may opt for the regime established in the Tax Act, effective January 1, 2015 and may exercise the option the declaration of transmission period.

Conversion of deferred tax assets in callable receivables from the Tax Administration: Refers to certain provisions that can be transferred to an enforceable claim by the Treasury, consisting of 1.5% of the total amount of existing assets on the last day of the tax period corresponding to corporation tax.

Wealth Tax

In the Capital Gains Tax is still extending the requirement of their assessment by the bonus of 100% of the full amount.

 New on VAT

Technical changes are introduced in the exemptions of services closely related to exports of goods and the exemption of imports of goods that are linked to warehousing arrangements other than customs to adapt domestic legislation to the Community; also the changes in the charge of equivalence in civil societies.

On January 1, 2016, is included as an import exempt from VAT, the importaciónde goods are intended for tax-free shops linked to arrangements other than customs warehousing.

transitional arrangements for 2016 and 2017 concerning the limits that determine the exclusion of the special VAT schemes for agriculture, fisheries and livestock is incorporated, linked the method of objective assessment of income tax. In addition, the volume of acquisitions and imports of goods and services within the previous year (it excluded those on fixed assets) is extended to 000, from € 150,000 in 2018.

Termination of special regime of equivalence surcharge for civil society: Civil societies to turn to have the status of taxpayers in the tax Sociedadescon effect January 1, 2016, and therefore cease to hold the special regime of equivalence surcharge, the fee may be deducted resulting from applying the acquisition value of their stocks inventoried, the corresponding autoliquidación the period in which the termination, and charge VAT excluded equivalence occur.