Income tax deductions for directors of companies that bill … – nuevatribuna.es

Income tax deductions for directors of companies that bill … – nuevatribuna.es

 

The directors and managers of companies with net turnover in excess of € 100,000 businesses will retentions of 37% in 2015 and 35% in 2016

 

The retention rate and income tax on employment income that is levied by the condition manager or member of the board of directors or other representative bodies of companies with turnover below 100,000 per year will be the 19% instead of 35% set for the other companies.

This is stated in the bill on the income tax law are modified, the law of income tax of non-residents and other tax rules , which was approved by the Council of Ministers on August 1 and shall be processed in Congress from September for it to enter into force on next year.

Thus, while the directors and managers of companies with net turnover in excess of € 100,000 businesses will retentions of 37% in 2015 and 35% in 2016, those who receive income for the same concepts but companies with fewer billing your withholding will be reduced to 20% next year and to 19% the next. In both cases, the percentage will be half if it comes to yields obtained in Ceuta or Melilla subject to the deductions provided.

According to the Tax Agency yields counselors and managers amounted to 1,674 million euros last year, bringing the deductions totaled 655 million euros, an amount that is regularized when the annual tax return is done.

PERFORMANCE BY ECONOMIC ACTIVITIES

 

15% will be applied in cases where the volume of entire returns from such activities immediately preceding year is less than € 15,000

 

In addition, the Ministry proposes to introduce an exception to the general rule of retaining 19% of the income from economic activities. Thus, 15% will be applied in cases where the volume of such activities yields integrity of the immediately preceding year is less than 15,000 euros and represents more than 75% of the sum of the gross income of economic activities and work in the relevant tax year.

“ For the implementation of such withholding, taxpayers must notify the payer of the income the concurrence of those circumstances, the payer being obliged to You retain the duly signed communication “is added on the bill.

According to the report of economic impact, the retention rate is also discount of 21% today to 20% next year and 19% in 2016 to the income from courses, conferences, seminars, symposia and the like, as well as literary, artistic or scientific works, except winnings from nonexempt by such works, amounted in 2013 to 533,000,000 euros withholding 110 million.

A similar levels withholding on winnings from contests and certain gambling are also reduced, which in 2013 contributed returns worth 62 million euros over 12 million deductions were applied; and yields on municipal property, which amounted last year to 1,940 million euros. According to statistics from income tax, such income was declared in 2012 by 716,885 taxpayers who viewed withheld 1,450 million.