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News
The Tax Authority proposes to exempt low-income families from income tax when receiving housing subsidies
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18
ABR
The Tax Authority proposes to exempt low-income families from income tax when receiving housing subsidies
The Tax Authority has submitted a non-legislative proposal to the Spanish Congress of Deputies asking for an exemption from personal income tax (IRPF) for low-income families who receive state housing subsidies. These measures concern the improvement of living conditions, safety, preservation of buildings, accessibility and the installation of elevators.
The document submitted for discussion to the Housing Commission points out that the current tax system discourages low-income families from applying for such subsidies. This is due to the fact that the funds received are taxed, increasing the amount of tax that low-income families must pay.
In addition, this situation has a negative impact on the housing renovation sector and employment in this sector, since the volume of work carried out is reduced. The VAT revenue to the state budget from failed construction works is also reduced. In this context, it is proposed to amend the 2021 decree regulating measures to stimulate renovation work, excluding from the IRPF taxable base state subsidies and aid provided directly to families or through their associations of owners.
The proposed tax relief will apply to families:
• in a social risk zone or with an income lower than three times the IPREM (the minimum income indicator in Spain);
• living in disadvantaged areas officially recognized as such by the municipal or regional authorities;
• in which there are members with reduced mobility.
The document submitted for discussion to the Housing Commission points out that the current tax system discourages low-income families from applying for such subsidies. This is due to the fact that the funds received are taxed, increasing the amount of tax that low-income families must pay.
In addition, this situation has a negative impact on the housing renovation sector and employment in this sector, since the volume of work carried out is reduced. The VAT revenue to the state budget from failed construction works is also reduced. In this context, it is proposed to amend the 2021 decree regulating measures to stimulate renovation work, excluding from the IRPF taxable base state subsidies and aid provided directly to families or through their associations of owners.
The proposed tax relief will apply to families:
• in a social risk zone or with an income lower than three times the IPREM (the minimum income indicator in Spain);
• living in disadvantaged areas officially recognized as such by the municipal or regional authorities;
• in which there are members with reduced mobility.
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