Exemptions

Exemptions from Article 7 of the Personal Income Tax Law

Minimum vital income regulated in Royal Decree-Law 20/2020, of May 29

Article 1 of Royal Decree-Law 39/2020, of December 29, on financial measures for social and economic support and compliance with the execution of sentences, has modified letter y) of article 7 of the Personal Income Tax Law to declare exempt the Social Security benefit of the Minimum Vital Income regulated by Royal Decree-Law 20/2020, of May 29 (BOE of June 1).

This exemption may not exceed , together with the rest of the benefits and aid for people who lack economic resources for subsistence or groups at risk of social exclusion referred to in the first paragraph of article 7.y) of the Personal Income Tax Law, a maximum joint annual amount of 1.5 times the public indicator of multiple-effect income (IPREM).

Special tax for certain gambling and lottery winnings.

Prizes with a total value of 40,000 euros or less will be exempt for the 2020 financial year.