Income tax return 2013 – An overview of the changes

From 2013, manually created income tax returns are no longer possible for the first time. In addition, as of January 1, 2013, the possibility of deducting expenses for the acquisition or construction of a property used as a primary residence was abolished. Furthermore, lottery winnings above a certain threshold are no longer tax exempt. The most significant change is likely the reform of the taxation of income from capital assets and gains from sales transactions. Gains from sales transactions generated within less than one year are now added to the general taxable base (“base imponible general”). Previously, gains from sales transactions were always subject to a separate tax rate for income from capital assets (“base imponible del ahorro”), which applied a tax rate independent of the income level. This rate has also changed. The separate tax rate for income from capital assets is now 21% for incomes up to €6,000, 25% for incomes from €6,000 to €24,000, and 27% for incomes above €24,000. Finally, it should be noted that tax incentives for so-called “business angels” are applied for the first time in 2013.