WEALTH TAX
The requirement for the levy of this tax is extended during 2017.
In general, the minimum exemption is 700,000 euros, the declaration of the habitual residence also being exempt up to a limit of 300,000 euros.
TAX DEFERRAL AND PAYMENT BY INSTALMENTS
The following taxes may not be deferred or paid in instalments:
• Withholdings and payments on account.
• Assessments resulting from the enforcement of firm rulings totally or partially against the taxpayer when they have previously been suspended during the handling of the corresponding administrative or legal appeal or claim.
• VAT, unless evidence is provided that the taxes charged have not effectively been collected.
• Partial payments of Corporate Income Tax.
MODULE SYSTEM 2017
• Requirements for inclusion in the module system in 2017: In 2017 the current maximum limits for revenues and purchases, that is, 250,000 euros per annum, will be maintained.
• Modules 2017: The same Income Tax and VAT modules will be maintained as in 2016 and in previous years, as will the general reduction in net income of 5%.
INCREASE IN THE DURATION OF PATERNITY LEAVE
As of 01-01-2017, workers will be entitled to paternity leave of four consecutive weeks in the event of the birth of a child, adoption or placement for the purposes of adoption or fostering, extendable by two further days per child as from the second child.
SOCIAL SECURITY – CONTRIBUTIONS BY SELF-EMPLOYED WORKERS
2017: the minimum amount of contributions by self-employed workers is increased although we will not know the amount until the approval of the General Budgetary Law.
MINIMUM WAGE (SMI) 2017
The amount of the minimum wage for the year 2017 is €23.59/day or €707.70/month and €9,907.80 per annum.
DATA PROTECTION LAW (LOPD)
• Adaptation to the General Data Protection Regulations (RGPD): All companies that handle data of customers and suppliers must comply with the regulations. CONSULT YOUR DATA PROTECTION ADVISERS.