24/2022, of 23 December, on tax measures for the year 2023, which modifies various taxes, we have prepared an informative note explaining these measures.

Among the various tax developments, the elimination, exclusively for tax periods beginning between 1 January 2022 and 31 December 2022, of the limit for offsetting tax losses (50% and 70%) foreseen for micro, small and medium-sized companies, as well as certain criteria incorporated with effect as of 1 January 2023 in relation to the concept of asset-holding companies.

In personal income tax, we highlight, on the one hand, the increase with effect from 1 January 2022 of the deduction for investments for the supply of solar electricity in the main residence and, on the other hand, exclusively for the 2023 tax period, an increase in the percentage reduction for, among others, expenses that are difficult to justify in the determination of the net yield in the simplified direct estimation.

Lastly, in Wealth Tax, effective as of 1 January 2023, the rule of supervening net worth, already existing in Corporate Income Tax, is incorporated to determine the scope of the exemption for holdings in certain entities.

Link to the informative note: Main tax measures introduced in the Historical Territory of Álava for 2023 by means of Provincial Law 24/242022, of 23 December..