Information Alert: Law 22/2021, on the General State Budget for the year 2022 and other urgent fiscal measures
A relevant new aspect is the minimum corporate income tax rate of 15% for large companies and tax groups. In terms of the other amendments, most of these are intended to extend the tax measures to reduce electricity bills and combat the spread of COVID-19.
General State Budget Law for 2022: tax amendments
Together with the introduction of the minimum Corporate Income Tax rate, the Budget Law lowers the reduction established for companies that apply the special regime for residential property leases from 85% to 40%. With regard to personal income tax, changes include the reduction of the general limit applicable to the taxable base for contributions to private pension plans, which has been lowered from 2,000 Euros per year to 1,500 Euros, in exchange for increasing the limit from 8,000 Euros to 8,500 Euros for contributions made by employers or employees under certain limits.
Read the full information alert in the attached file or via this link.
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