It is important for professional firms to be aware of the latest developments in order to optimise their clients' taxation and achieve tax savings.
In October, the Government approved the draft law on the general state budget for 2023, which highlights tax changes that affect companies and the self-employed. We will tell you about them below.
Start of marked textTWEET IT! 2023 is approaching pharmaceutical email list and here are the fiscal updates from the General State Budget that you should know about.End of marked text
Fiscal news from the 2023 General Budget
The most notable fiscal developments in the general budget for 2023 are the following:
Reduction of the applicable rate in IS for small entities
One of the new tax changes affecting companies in 2023 concerns corporate tax . This involves reducing the tax rate applicable to small companies. That is, those with a turnover of less than one million euros, from 25% to 23%.
On the other hand, the 50% limit on compensation of losses in consolidated groups is regulated. This is not an increase in tax, but rather a deferral of the possibility of compensating negative tax bases. It is a temporary measure that will allow increased revenue collection.
Changes in personal income tax for self-employed workers
Regarding personal income tax , various modifications will begin to apply in 2023:
Tax withholdings are reduced for incomes of up to 21,000 euros.
The tax rate for capital income exceeding 200,000 euros (27%) and over 300,000 euros (28%) is increased.
The deduction percentage for all deductible provisions and for expenses that are difficult to justify will increase from 5% to 7%, provided that the limit of 2,000 euros is not exceeded.
