Tomorrow the 2022 Income Statement starts online: steps to follow

The 2022 Income and Wealth Campaign starts this April 11 with the presentation of the declarations by Internet, according to the taxpayer calendar of the Tax Agency. This corresponds to the income of 2022 and will be available between June 1 and 30 in an ordinary way. In the same way, As of April 11, the first personal income tax declarations will be able to be presented and heritage, onlinethe way in which nine out of ten taxpayers already do it.

Also, from the next May 5 and until June 30 the personal income tax return may also be submitted by phoneand between the June 1 and 30coinciding with the ordinary period of the Campaign, taxpayers may present their return at the offices of the Tax Agency.

With result to enter and with direct debit, The term ends on June 27. The Tax Agency has already enabled the tax data download and part of the informative content of the next 2022 Income Campaign, with the aim of advancing the procedures in the declarations.

News in the 2022 Income Statement

Among the novelties of this Campaign, it stands out that the maximum individual contribution to private pension plans with the right to deduct personal income tax is reduced to 1,500 euros per year. On the contrary, the maximum contributions to company plans with the right to deduct rise to 8,500 euros by 2022. Between the two, the total contribution with tax benefits remains at 10,000 euros per year.

In the case of economic activities in objective estimation, the increases overall drawdown on the net performance of modules from 5% to 15% for the 2022 tax period, a measure applicable to all taxpayers who determine the net income from its activity economical using this method.

Additionally, for agricultural and livestock activities, in order to offset the increase in the cost of certain inputs, the previous net yield may be reduced by the 35% of the purchase price of diesel agricultural and in the 15% of the purchase price of fertilizersin both cases, necessary for the development of said activities.

Likewise, they will also be applied in the tax period 2022, the corrective indices for feed purchased from third parties and by crops on irrigated land that usefor this purpose, electric power. Due to the consequences of volcanic eruptions that occurred on the island of La Palmataxpayers who develop their economic activities on this island will be able reduce your net yield of modules by 20%a reduction that will be applied in both 2022 and 2023.

Effects of changes in personal income tax

It must also be taken into account, with a view to presenting the declaration, the modifications of the income tax scales approved with retroactive effect for 2022 by some autonomous communities, with the aim of alleviating the rise in prices registered throughout the year. In addition, in this Campaign the Tax Agency has enabled a box within the presentation of the declaration model to record the gains and losses derived from the transmission or exchange of virtual currencies.

New section to declare cryptocurrencies

In the most notable modifications within capital gains and losses, it also includes the breakdown into three subsections of the section called ‘Equity gains and losses derived from transfers of other patrimonial elements’.

One, to declare the derivatives of the transfer of real estate and rights in rem over real estate; another, to declare the transmissions or virtual currency swaps and a residual section for ‘Other assets’.

All this, according to the Treasury, in order to facilitate the completion of these sections, since in previous models a code had to be completed to identify the type of patrimonial element that was transmitted. In addition, the separation into specific subsections, allows to individualize the specific boxes of certain patrimonial elements for calculating capital gain.

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