Do you know the tax changes for SMEs and freelancers?

During the past year, Congress approved an increase in the minimum interprofessional salary by 8 percent. That is, during 2017 the minimum wage will be set at € 954.55 per month. Precisely behind this rise in the minimum wage is the increase in an identical 8 percent of the minimum contribution base for the self-employed. A measure that will help employed workers but penalizes others.

Another improvement that has been established has been to try to make family reconciliation more real. Among the most interesting developments is the increase in paternity leave to four weeks or the exclusion of maternity benefits from the income statement. It is also intended to force companies to record the hours worked by their employees part-time with the intention of preventing them from charging less than they actually work. It should not be forgotten that according to the INE data offered in the Labor Force Survey, workers average 5.3 million extra hours per week. Of these hours there were 48.9 percent of hours worked between July and September 2016 that were not paid.

New rules proposed by the Treasury

New rules proposed by the Treasury

Among the proposals that were made during the past year, a new Decree Law that includes several measures that allow greater protection for the self-employed stands out. For example, those in the tax area, through which the self-employed can delay all tax debts that do not exceed 30,000 euros, stand out for a period of 12 months. These months increase to 36 if the debt exceeds this amount.

On the other hand, SMEs have the opportunity to delay the corporate tax and VAT payment in six months if the VAT has not yet been collected.

Another novelty is that from 2017 it will be mandatory to apply the changes established during the end of 2016 regarding the rules of the Single Payment Zone of Europe (SEPA).

In addition, the Treasury opens this year the Immediate Supply of Information or SII. This will allow VAT to be managed more agilely The SII will become mandatory during 2017 for those companies whose turnover exceeds 6 million euros per year, for those that are registered in the Monthly VAT Refund Registry or for those that are taxed under the special VAT group regime.

Through the SII, taxpayers may delay periodic self-assessments by 10 days and may immediately verify the data in their registration books with those of the Tax Agency and its clients.

Deductions for 2017

Deductions for 2017

From 2017, new allowances will be added to the personal income tax. All those self-employed who work from home will be able to deduct from now on 20 percent of the water, gas and electricity supplies. In addition, up to 50 percent of telephone charges may be deducted.

As for vehicles, those entrepreneurs under the Simplified Direct Estimation Regime may deduct up to 50 percent of the IRPF when they are partially subject to activity.

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