Assuming that everything is agreed and sufficiently consensual for Deputies to approve the fiscal package at the end of April and it is immediately dealt with by the Senate, in the best case scenario it could become law in the first or second week of May. .
In Profits, in principle, the modifications take effect from the official publication of the law, although with specific validity for the different chapters that make up Title V of the project.
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The deadlines for the presentation of the sworn declarations of the Income Tax and the Personal Property Tax of individuals and undivided estates for the fiscal period 2023 are scheduled for June 11, 12 and 13, dates that were stipulated without considering the reforms which would later be promoted by the new government, which have just been announced for their next treatment in Congress, and which includes modifications to the property tax that are applicable precisely for the fiscal period to expire.
Assuming that everything is agreed and sufficiently consensual for Deputies to approve the fiscal package at the end of April and it is immediately dealt with by the Senate, in the best case scenario it could become law in the first or second week of May. .
In the event that the project becomes law in the first half of May, it should be regulated, dictate the administrative rules and, most importantly, adapt the applications that allow the determination and settlement of the lien in line with the changes provided. With respect to Personal Assets there is the Special Income Regime that covers the periods 2023 to 2027.
Likewise, with regard to the tax itself and applicable to these maturities, the non-taxable amount and the exemption for properties intended for residential purposes are increased and the applicable rates are reformulated, integrating them. So these are measures that have a positive impact on the taxpayers of the tax.
In Profits, in principle, the modifications take effect from the official publication of the law, although with specific validity for the different chapters that make up Title V of the project.
However, the modifications that should be incorporated into the application, particularly regarding Personal Assets, from the enactment of the law are framed in an extremely short time for the tax administration and, in turn, so that taxpayers and their advisors have the updated tool with sufficient notice to allow compliance with these obligations in a timely manner.
Everything suggests that a prudent and harmonious management of the tax administration indicates that it would be necessary to reconsider the due dates considering when the respective applications can be made available to taxpayers and also the readjustment of the work papers of the accountants depending on of the new rules to be applied.
Source: Ambito
