Information Update nº 3 – April 2024

Apr 4, 2024Informative notes

Documentation and data necessary for the preparation of your Income and Wealth Tax Return for the 2023 financial year

We would like to inform you that on 3rd of April, the deadline for filing the Personal Income Tax return for the year 2023 and the Wealth Tax return begins, and ends on 1st of July.

As in previous years, we remind you that the Tax Agency will not send you the tax information it has about you, so you must request it directly from the administration or through an authorised third party such as Morera Asesores & Auditores.

Below, we indicate the data and documents that will be necessary, and that you should not forget, when gathering your documentation:

-. Earned income certificate: Certificate from the company or paying entity.

-. Certificates of current accounts, securities and funds deposited in banks.

-. Receipt of the IBI of all the properties you own, whether they are rented or at the disposal of their owner.

In relation to the rented properties, ID of the tenants, and date of the rental contracts.

-. Summary of rental income, as well as the expenses incurred by each of the properties, such as administration expenses, insurance, property tax, repairs, etc., identified by each of the leased properties.

The origin of the reported tax value of the properties (cadastral value, acquisition, verification, etc.) must be recorded, as well as the dates of acquisition.

In the case of renting a primary residence, the amount paid to the owner of the property, as well as the cadastral reference of the property, and identification of the lessor.

In the case of property transfers, the date and amount of both purchase and sale. You must also provide us with the costs incurred in the acquisition and transfer.

-. In the case of being a shareholder in a community of property, the entity’s certificate of imputed income (Form 184)

-. Professionals/entrepreneurs, a copy of forms 130 or 131 as well as a copy of the Value Added Tax returns and their annual summary (forms 303 and 390). A breakdown of income and expenditure is required.

-. Professionals whose home is partially affected by the activity may deduct part of the amount of the supplies used for the exercise of the activity.

-. Certificates of contributions made to Pension Plans.

-. Certificates of donations to non-profit organizations.

-. If you have carried out works in your home aimed at saving energy, you must provide us with the amount paid, as well as the supporting documents.

-. Copy of the Personal Income Tax return for the 2022 financial year.

-. In the event of a transfer of assets by persons over 65 years of age, accreditation, if applicable, of the reinvestment in the constitution of a life annuity.

We would like to remind you that this is not a closed list and that any document that has tax significance can be useful.

In the case of Family Units, the documentation or information, both for the purposes of Income and Wealth, must be individualized for each spouse and children.

Likewise, if you meet the requirements that oblige you to file it, you must prepare the Wealth Tax return and, where applicable, the Temporary Solidarity Tax on Large Fortunes.

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