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Explanatory note to Law 12/2022, of June 30, regulating the promotion of employment pension plans

The fifth Final Provision of Law 12/2022, of June 30, regulating the promotion of employment pension plans, which modifies the consolidated text of the Law on the Regulation of Pension Plans and Funds, approved by Royal Legislative Decree 1/2002, of November 29, adds a new article 38 ter in Law 27/2014, of November 27, on Corporate Tax, to incorporate a deduction in the full quota of 10 percent for business contributions to corporate social security systems imputed in favor of workers .

In this regard, the new article 38 ter of Law 27/2014, of November 27, on Corporate Tax provides that:

«Article 38 ter. Deduction for business contributions to corporate social security systems.

The taxable person may make a deduction in the full quota of 10 percent of the business contributions charged in favor of workers with gross annual salaries of less than 27,000 euros, provided that such contributions are made to employment pension plans, health insurance plans, corporate social security, to pension plans regulated in Directive ( EU ) 2016/2341 of the European Parliament and of the Council, of December 14, 2016, relating to the activities and supervision of employment pension funds and social security mutual societies that act as a social security instrument of which the taxpayer is the promoter. 

In the case of workers with gross annual remuneration equal to or greater than 27,000 euros, the deduction provided for in the previous paragraph will be applied to the proportional part of the employer's contributions corresponding to the amount of gross annual remuneration indicated in said paragraph.»                                                                    

In accordance with article 10.2 of Law 58/2003, of December 17, General Tax Law, the deduction introduced by the new article 38 ter will be applicable for tax periods beginning on or after July 2, 2022.

Ley 12/2022, de 30 de junio,

de regulación para el impulso de los planes de pensiones de empleo, por la que se modifica el texto refundido de la Ley de Regulación de los Planes y Fondos de Pensiones, aprobado por Real Decreto Legislativo 1/2002, de 29 de noviembre.