Draft Tax Reform
Dear / a partner / a,
As announced in the previous note notice, and are accessible to policy Drafts where tax reform will be implemented and which amend the Income Tax, Corporation Tax, IRNR, Excise, VAT and Tax Code.
Now the public inquiry starts, in which our corporation, like other organisms, may make observations, then will enter the House of Representatives the corresponding draft legislation, approval and is expected to occur early enough to also see light regulatory developments before the end of this year.
Although it is early to talk about specific measures, which will require careful consideration, other than what was reported after the last Council of Ministers, and as stated by the Minister and the Secretary of State for Finance, you can point the following :
• The Income Tax:
Exemption from severance pay be limited.
Gains that may occur in repossessions (now only for debtors on the threshold of exclusion) be declared exempt.
Preferentistas to be allowed to offset the negative investment income produced in the exchange, with capital gains that can generate after the sale of the shares were exchanged for the preferred.
Plans for long-term savings that a taxpayer who put their savings as deposits and insurance products, if you keep a minimum of 5 years are created not pay tax on amounts earned.
Maximum contributions to pension plans of current amounts (10,000 or € 12,500 / year, depending on age) to a maximum of 8000 € / year social are reduced.
The exemption of the first € 1,500 of dividends will be deleted.
Deductions are reduced professionals generally 21 to 19% and for those with incomes below € 12,000, 15%.
Regime modules will be left in 2016, only to farmers, ranchers and small-scale activities whose customers are final consumers.
The reduction of net income enjoyed by the owners of rental housing, which is now, in general, 60%, and 100% when the tenant is young, will become of only 50%.
In the income tax:
– Amortization tables will be simplified.
– The possibility to deduct the accounting impairment of fixed assets and fixed income, as is currently the case with the equity portfolio is limited.
– Current consolidation measures, such as increased percentages of installments was extended.
– Limiting BIN’s compensation is unified (although it may make unlimited basis up to one million euros) and the maximum time limit for compensation takes 18 years (will be compensated without time limit).
– The deductibility of expenses is limited by attention to customers 1% of turnover.
– The deduction for R & D + i is maintained, the film production and benefits to foreign shoots will occur in our country.
– The announced rate increase for medical devices with the exception, for example, glasses and contact lenses is confirmed.
– New rule location e-commerce services, rendered by contractors to end users, in the recipient’s country.
Fight against fraud
– Annual publication of the list of tax havens which may also include those territories that have signed agreements but not effectively enforced.
– They give greater facilities for the inspection can apply the indirect assessment of bases.
– More facilities for checking exercises prescribed in BIN’s that were generated.
I hope that this information is helpful, I send cordial greetings,