What’s new in the 2023 income tax return

With a new income tax return campaign on the way, many taxpayers are already wondering whether they will have to pay or return their taxes.

Are you one of them? If the answer is yes, you will be interested to know that this year a set of modifications related to dates and taxes, among others, have come into force.

Key dates to file your income tax return

The key dates for filing the new income tax return are delayed just a few days compared to the previous year. They have already been published by the Tax Agency and are included in the 2023 taxpayer’s calendar.

• From April 11 to June 30, 2023: online filing of the 2022 Income and Wealth tax returns.

• From May 5 to June 30, 2023: the Tax Agency will be able to manage taxpayers’ returns by telephone (active application from May 3 to June 29).

• From June 1 to June 30, 2023: the Tax Agency will be able to process tax returns in person at its offices (appointment request from May 25 to June 29).

Novelties in the income tax return

These are the main novelties to be taken into account before complying with tax obligations:

• Contribution to pension plans

The maximum individual contribution to private pension plans with the right to deduction in the IRPF goes from 2,000 € to 1,500 € per year.

On the other hand, the maximum contributions to company plans with the right to deduction increase by 500 €, up to 8,500 €.

However, the sum of both contributions remains at €10,000 per year as the maximum limit of total contribution with tax benefits.

• Modifications in Personal Income Tax

The General State Budget approved in 2023 contemplates among its main fiscal novelties:

1) The reduction of Personal Income Tax for incomes up to €21,000.

2) Increase of the minimum amount exempt from said tax, up to 15,000 €.

3) Increase in the taxation of savings income from €200,000 onwards in order to reduce the disparity between taxation of labor income and income from disinvestment.

However, these measures will not take effect this year, but next year.

However, the modifications in the personal income tax scales, approved retroactively for 2022 by some autonomous communities such as Madrid, Valencia or Andalusia, will be applied in order to alleviate the price increases registered throughout the year.

In addition, as regards the real estate sector, this year a novelty is introduced that affects all those owners who have sold a property during 2022.

The changes in the IRPF are reflected in the taxation brackets of movable income and capital gains.

They are related to the tax rates and two new brackets are included in the taxable base of the saving.

• The bracket between €200,000 and €300,000, which was taxed at 26% from 2022, rises to 27%.

• The bracket from €300,000 and above, which was taxed at 26%, increases to 28%.

• Extension of maternity deduction

Another change to take into account is the one that affects the deduction for maternity. Until now, this allowance was only aimed at working mothers. Only they obtained a maximum of 100 euros per month for each child under three years of age.

Now, this aid is also extended to all those mothers who do not have a permanent job and/or who are unemployed.

This subsidy can be applied for on a monthly basis or received in a single payment when filing the annual income tax return.