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Practical manual for Income Tax 2020.

3. Maximum limit and excess contributions

A. Maximum contribution limit

Annual contributions may not exceed the amount of euros year, including contributions made by promoters in the form of work income.

Contributions will not be accepted once the working life as a professional athlete ends or the status of high-level athlete is lost under the terms and conditions established by regulation.

B. Pending excesses to be reduced from contributions made in previous years

Contributions that could not have been subject to reduction in the tax base due to insufficient tax base or due to application of the maximum limits of tax reduction legally established, may be reduced in the current fiscal year, provided that the taxpayer has requested in the declaration corresponding to the fiscal years 2015 to 2019 to be able to reduce the excess in the following five fiscal years.

The reduction of the excess, which will be carried out subject to the maximum limits discussed below, will be carried out with priority to that corresponding to the contributions made in the financial year.

C. Maximum limit for reduction of the tax base

Contributions, direct or imputed, as well as, where applicable, excesses from the years 2015 to 2019 pending reduction, may be subject to reduction exclusively in the general part of the tax base . The lowest of the following amounts will be applied as the maximum limit:

  1. Sum of the net income from work and economic activities received individually by the taxpayer in the fiscal year.
  2. 24,250 euros per year.

D. Excess contributions corresponding to the fiscal year

Contributions made in 2020 that were not subject to a reduction in the tax base due to insufficient tax base or due to the application of the limit mentioned in letter a) above may be reduced in the following five years.

In this case, the taxpayer must complete, within section I of the declaration, boxes [0488] and [0489], in the last of which the amount of contributions and contributions made in 2020 will be stated.

Note: the amounts corresponding to the excesses pending reduction of contributions made in the years 2015 to 2019 pending application at the beginning of the year, those applied in the declaration and the remainder pending application in future years, as well as the excess of contributions corresponding to the year 2020 not applied, the amount of which is requested to be able to be reduced in the following 5 years, must be stated in Annex C.2 of the declaration in the section "Unreduced excess of contributions to the professional athletes' social security mutual fund pending offset in the following years".