Temporal scope, purpose, tax period in which it is applied and amount of the deduction

Regulations:Additional Provision fifty-eighth.1, 2 and 4 Law Personal Income Tax

Temporal scope of the deduction

The deduction is applicable to the acquisition of certain new “plug-in” and fuel cell electric vehicles, made from on June 30, 2023 until on June 31 December 2024, provided that the conditions and requirements indicated in the following sections are met.

Purpose of the deduction and tax period in which the deduction is applied

The object of the deduction is the purchase by the taxpayer of a single new electric vehicle , in any of the following circumstances:

1. Acquisition through a single payment:

   In this case, the deduction will be made in the tax period in which the vehicle is registered and will be made by the taxpayer in whose name the vehicle is registered. 

2. Acquisition through a first payment on account and subsequent payments:

   In this case, taxpayers will be able to make the deduction when they pay, between June 30, 2023 and December 31, 2024, an amount on account for the future acquisition of the vehicle that represents at least 25 percent of the value. of acquisition of the same, the rest must be paid and the vehicle acquired before the end of the second tax period immediately following the one in which the payment of said amount occurred.

   In this case, the expression “acquisition value” refers to the sale price of the vehicle. Therefore, it is sufficient that the amount paid on account represents 25 percent of the sale price of the vehicle.

   The deduction will be made in the tax period in which such amount is paid on account.

Remember: The taxpayer may apply the deduction for a single purchase of any of the vehicles listed in section “ requirements and conditions for its application ” and must opt ​​in relation to the same for the application of the provisions of letter a) or b) above.

Base and maximum base of the deduction

The base of the deduction will be constituted by the acquisition value of the vehicle, including the expenses and taxes inherent to the acquisition. 

However, those amounts that, where applicable, would have been subsidized or would be subsidized through a public aid program will be deducted.

The maximum annual base of this deduction will be 20,000 euros

This limit is identical in individual and joint taxation

Percentage of deduction

The applicable deduction percentage based on the deduction, in the terms previously mentioned, is 15 per 100 of the acquisition value of a new electric vehicle.