{"id":105220,"date":"2024-04-03T14:49:00","date_gmt":"2024-04-03T12:49:00","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/?p=105220"},"modified":"2024-04-03T15:51:00","modified_gmt":"2024-04-03T13:51:00","slug":"2023-2024-income-tax-campaign-in-balears","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/2023-2024-income-tax-campaign-in-balears\/","title":{"rendered":"The 2023\/2024 income tax campaign in Balears is under way"},"content":{"rendered":"

The 2023\/2024 income tax campaign in the Balearic Islands begins today, 3 April, and will run until 1 July 2024. This year presents an increase in terms of tax deductions applicable in the Personal Income Tax (IRPF) return, with a significant impact on savings for taxpayers. Specifically, 23 regional deductions are included, of which a total of eight have been improved or are newly created, representing an increase of 35%.<\/p>\n

\"renta<\/p>\n

With more flexible income level criteria, approximately eight out of ten taxpayers are eligible to take advantage of these reliefs. A total saving of \u20ac36 million is projected, a growth of 85% compared to \u20ac19.5 million in the previous year.<\/p>\n

What’s new in the Renta 2023\/2024<\/h2>\n

Among the new features are the deduction for birth and adoption, which offer variable amounts depending on the number of children and with the possibility to advance payment retroactively from 1 January 2024. In addition, the deduction for renting a home has been extended for different demographic groups, such as those over 65 years of age who are not in employment, and the deduction for higher education studies outside the island has been increased, eliminating the requirement that there be no educational offer in Mallorca. These measures are in addition to improvements in deductions for the purchase of textbooks, for fostering children under 6 years of age for reasons of conciliation, and for extracurricular learning of foreign languages, among others.<\/p>\n

Income Tax Deductions 2023\/2024<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Area<\/th>\nDeduction<\/th>\nPercentage\/Amount<\/th>\nLimit\/Conditions<\/th>\n<\/tr>\n<\/thead>\n
Housing<\/strong><\/td>\nDeduction for rental of housing<\/td>\n15% of expense<\/td>\nMaximum of \u20ac530; over 65 years old without work activity.<\/td>\n<\/tr>\n
<\/td>\nDeduction for rental of housing (for under 30 years, disabled, etc.)<\/td>\n20% of expense<\/td>\nMaximum of \u20ac650; specific conditions apply.<\/td>\n<\/tr>\n
<\/td>\nDeduction for variable mortgage interest<\/td>\n\u20ac400<\/td>\nImprovement compared to the \u20ac250 of the previous year.<\/td>\n<\/tr>\n
<\/td>\nDeduction for improving the sustainability of housing<\/td>\n50% of expense<\/td>\nLimit of \u20ac10,000.<\/td>\n<\/tr>\n
<\/td>\nDeduction for rental of property intended for housing<\/td>\nUp to 75% of expense<\/td>\nMaximum of \u20ac440 in insurance premiums for defaults.<\/td>\n<\/tr>\n
<\/td>\nDeduction for rentals derived from temporary transfer for work reasons<\/td>\n15% of expense<\/td>\nMaximum of \u20ac440.<\/td>\n<\/tr>\n
Education<\/strong><\/td>\nDeduction for higher education studies off the island<\/td>\n50% of full fee<\/td>\nMaximum of \u20ac1,880 per child; requirement of educational offer in Mallorca suppressed.<\/td>\n<\/tr>\n
<\/td>\nDeduction for purchase of textbooks<\/td>\n100% of cost<\/td>\nMaximum of \u20ac250 per child; specific conditions apply.<\/td>\n<\/tr>\n
<\/td>\nDeduction for extracurricular learning of foreign languages<\/td>\n15% of expense<\/td>\nMaximum of \u20ac110 per child.<\/td>\n<\/tr>\n
Personal situations<\/strong><\/td>\nDeduction for birth<\/td>\nVariable<\/td>\n\u20ac800 (1st child), \u20ac1,000 (2nd child), \u20ac1,200 (3rd child), \u20ac1,400 (4th and subsequent); widening of income limit for large families and single-parent families.<\/td>\n<\/tr>\n
<\/td>\nDeduction for adoption<\/td>\nVariable<\/td>\nSame amounts as deduction for birth; widening of income limit for large families and single-parent families.<\/td>\n<\/tr>\n
<\/td>\nDeduction for fostering children under 6 years for reconciliation reasons<\/td>\nUp to 50% of expense<\/td>\nMaximum of \u20ac900; specific conditions apply.<\/td>\n<\/tr>\n
<\/td>\nDeduction for taxpayers with physical, sensory, or psychic disabilities<\/td>\nVariable<\/td>\nDetails not specified in the summary.<\/td>\n<\/tr>\n
Personal and Family Minimum<\/strong><\/td>\nPersonal and family minimum<\/td>\n10% increase<\/td>\nFor taxpayers over 75 years old, for the second child and subsequent ones, for dependents in the charge of the taxpayer.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/h2>\n

Renta \u00c1gil campaign<\/h2>\n

This year, the Balearic Islands Tax Agency (ATIB) is once again making the Renta \u00c1gil service available to citizens to help them file their personal income tax return. This service is complementary to the one offered in its offices by the State Tax Administration Agency (AEAT).<\/p>\n

Taxpayers will be able to make an appointment from 28 May to 28 June, and then file their return in person between 3 June and 1 July.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 2023\/2024 income tax campaign in the Balearic Islands begins […]<\/a><\/p>\n","protected":false},"author":4,"featured_media":42439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515,1513],"tags":[],"class_list":["post-105220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism","category-society"],"yoast_head":"\n2023\/2024 income tax campaign in Balears: deductions - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"The 2023\/2024 income tax campaign in Balears kicks off on 3 April with more deductions and a greater tax impact than last year's campaign.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/2023-2024-income-tax-campaign-in-balears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2023\/2024 income tax campaign in Balears: deductions - 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