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New regulations for 2023

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Main tax innovations introduced by Order HFP/1359/2023, of December 19, which develops for the year 2024 the objective estimation method of the Personal Income Tax and the simplified special regime of the Value Added Tax

PERSONAL INCOME TAX (IRPF)

  1. A reduction of 5% is set at on the net yield of modules for all taxpayers who determine the yield of their economic activity according to the objective estimation method.

    This reduction will be taken into account when quantifying the net return for the purposes of the split payments.

  2. Agricultural and livestock activities may continue to reduce previous net income:

    • At 35% of the purchase price of agricultural diesel.

    • At 15% of the purchase price of fertilizers.

    Both reductions will only apply to purchases made in fiscal year 2024, documented in invoices issued in that period.

  3. Taxpayers who carry out economic activities on the island of La Palma will be able to continue reducing the net income from modules corresponding to these activities by 20%.

    This reduction will be taken into account when quantifying the net yield for the purposes of the 2024 installment payments.

  4. Taxpayers who wish to waive or revoke their waiver for the year 2024 will be able to exercise this option from December 22 to December 31, 2023.

Orden HFP/1359/2023, de 19 de diciembre,

por la que se desarrollan para el año 2024 el método de estimación objetiva del Impuesto sobre la Renta de las Personas Físicas y el régimen especial simplificado del Impuesto Sobre el Valor Añadido.