New tax for 2010. Add VAT and Income Tax.
| Date: January 2, 2010 | Source: Reuters |
| Category: Economy | |
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Loading ... The increase in VAT from July will be the most important tax change next year, year in which they also increase the taxation of capital income and keep the deduction of 400 euros for low incomes, which will, in practice, an increase in income tax.
This will increase because of this tax, enter the state of 121.627 million euros next year, 21.2% more than in 2009, as recorded in the State Budget.
The VAT increase will affect the general nature that will rise two points to 18%, and the low will move up a point, to 8%, while the super-reduced VAT for commodities will remain at 4%.
The Government justified the increase that took effect in the second half of the year on the grounds that the Spanish economy and will then be on the mend from that date.
As for capital income taxation up all savings instruments, such as asset increases, bank deposits or dividends, among others, which so far had a tax of 18%, although this measure will be progressive.
Thus, capital gains up to 6,000 euros will be taxed at 19%, and from that amount taxed at 21%.
According to the Government, the 11.5 million taxpayers who declared earnings up to € 6,000, will pay on average about six euros a year.
As for capital income above 60,000 euros, about 100,000 taxpayers who claim now taxed at 21%, which would add an increase of about 5,000 euros per year on average, while incomes exceeding one million euros paid over an average of 30,000 per year.
It also maintains the deduction of EUR 400 for taxable income with less than 8,000 euros and will have a progressive up to 12,000 per year, costing the state 420 million in 2010 to benefit two million people.
And this year is deleted known as the "Beckham", so that foreigners transferred to Spain with a formal contract with incomes over € 600,000 annual taxable nonresident income tax to 43% instead of 24%.
This measure is more a moral than economic, since only 60 taxpayers impatriates system, 43 professional footballers, declared incomes over € 600,000 in 2008.
Another important aspect is that this year will be the last to benefit from the deduction for home purchase, since from 2011 the deduction is limited to income of less than 24,107.20 euros, as it will not affect those who have acquired home before that date.
