5 ways to save thousands on your 2024 Spanish personal Income Tax return

The 2024 Income Tax campaign in Spain will run from April until July

Changes at national and regional level

5 Income tax deductions that could save you thousands

1. Taxpayers can claim a deduction of up to 15% on the purchase price of a new electric car or motorcycle. Additionally, they can deduct 15% of the cost of installing an electric vehicle charging point on a property they own.
2. Parents can claim a deduction of 1,200 euros for each child under the age of three, regardless of whether they are employed or receiving unemployment benefits.
3. The maximum contribution to an individual pension plan remains at 1,500 euros, but there is now the option to increase this by a further 8,500 euros for contributions to company pension plans.
4. Individuals who work for companies abroad will not have to pay taxes on earnings up to 60,100 euros per year in the common territory, provided that the territory where the work is performed applies a tax similar to the level of Spanish personal income tax and is not a tax haven.
5. Donations to not for profit, non-governmental organisations (NGOs) can be deducted at rates ranging from 10% to 80%, depending on the amount donated. Membership fees for political parties qualify for a 20% deduction, up to a maximum base of 600 euros. Similarly, union and professional association dues can be deducted by up to 20%, with a cap of 500 euros per year.