On 30 December last, Law 36/2022, of 28 December, which introduces certain tax measures in Navarre, was published in the BON (Official Journal of Navarre). Among others, and according to its explanatory memorandum, this law aims to respond to the current economic context by adopting tax measures that reduce the taxation of taxpayers with lower incomes, while at the same time demanding a higher contribution from those with greater economic capacity.
Among the various tax measures adopted, we highlight the following:
- In the area of personal income tax, the obligation to file a tax return is eliminated for taxpayers with a lower income level (up to 14,500 euros) and the taxation on income from savings is modified by incorporating two new brackets in the rate of the savings base.
- In the area of corporate income tax, the threshold for being considered a small company is raised (tax rate of 23%) and new tax incentives related to culture and the environment are incorporated.
- With regard to Wealth Tax, we would highlight the incorporation of the rule of supervening wealth in the exemption regime for shareholdings in certain entities.
- And related to economic development, tax incentives for individuals and entrepreneurial entities are improved.
As a consequence of the above, we have prepared a circular detailing the main tax measures adopted.
Link to the circular: Modification of various taxes and other measures in the Autonomous Community of Navarre
