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New regulations for 2024

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Main tax changes introduced by Royal Decree-Law 4/2024, of June 26, which extends certain measures to address the economic and social consequences arising from the conflicts in Ukraine and the Middle East and adopts urgent measures in fiscal, energy and social matters

CORPORATION TAX

With effect from for tax periods beginning on or after 1 January 2024 , the following amendments are introduced to Law 27/2014, of 27 November, on Corporate Income Tax:

  • Freedom of amortization on investments in new FCV, FCHV, BEV, REEV or PHEV vehicles or in new charging facilities, both for private use and those accessible to the public, for electric vehicles

    Additional Provision 18 of Law 27/2014 is amended by article 4 One of Royal Decree-Law 4/2024, in order to replace the accelerated amortization system in force until now, consisting of applying double the maximum linear amortization coefficient according to officially approved tables, by free amortization , provided that they are new investments that come into operation in the tax periods in 2024 and 2025.

    In any case, the application of the freedom of amortization, in the terms previously indicated, will require compliance with the following requirements:

    1. Contribution of the mandatory technical documentation , according to the characteristics of the installation, in the form of a Project or Report, provided for in Royal Decree 842/2002, of August 2, which approves the low voltage electrical regulations, prepared by the authorized installer duly registered in the Integrated Industrial Registry, regulated in Title IV of Law 21/1992, of July 16, on Industry, and in its implementing regulations.

    2. Obtaining the electrical installation certificate completed by the competent Autonomous Community.

  • Capitalization reserve. Increase in the reduction in the tax base and reduction in the period for maintaining the increase in equity and the allocated reserve

    Section of article 25 of Law 27/2014 is amended by article of Royal Decree-Law 4/2024, in to enhance this tax incentive:

    • from 10 to 15 percent of the amount of the increase in its equity, for taxpayers who pay taxes at the tax rate provided for in sections 1 or 6 of article 29 of Law 27/2014, provided that they meet the required conditions.

    • The maintenance period is reduced, of the increase in the entity's equity, which goes from 5 to 3 years from the close of the tax period to which the reduction corresponds, except for the existence of accounting losses in the entity.

    • At the same time, the capitalization reserve that must be provided for the amount of the reduction, must appear on the balance sheet with absolute separation and appropriate title and will be unavailable for a period that goes from 5 to 3 years.

    The aim of this measure is to boost business capitalisation by increasing net worth and, thereby, encourage the restructuring of companies and their competitiveness by emphasising equal tax treatment of external and internal financing.

    (Article 25 and DA 18 of Law 27/2014, of November 27, are modified by article 4 Two of Royal Decree-Law 4/2024, of June 26)

Real Decreto-ley 4/2024, de 26 de junio,

por el que se prorrogan determinadas medidas para afrontar las consecuencias económicas y sociales derivadas de los conflictos en Ucrania y Oriente Próximo y se adoptan medidas urgentes en materia fiscal, energética y social.