Tax news in income tax

Some of the major changes arising from the last tax reform are those that deal with income tax, which raises about 42 of total tax revenues, affecting approximately 18 million taxpayers.

It is important to highlight that the amendment of sections not only supposed to go from seven to five, but also accompanied by a decline in rates.

However, this decline does not occur uniformly, and this is so not only because we are witnessing a change in the applicable rate but the change also occurs in the thresholds for each tranche. The result lies in the fact that the average income of 20000-33000 income tax not lower the nominal rate, and between 35,000 and 53,000 down 4.3. But clearly in low average incomes (below 20,000 euros) and very high (over 120,000).

Remember that we are a consultancy specializing in Marbella tax and accounting, so if you need advice on any issue related to the income tax or any other tax, please contact us.