{"id":9036362,"date":"2024-03-13T07:00:48","date_gmt":"2024-03-13T07:00:48","guid":{"rendered":"https:\/\/www.gremicat.es\/?p=9036362"},"modified":"2024-03-13T08:41:06","modified_gmt":"2024-03-13T08:41:06","slug":"personal-income-tax-withholdings-are-adjusted-to-the-increase-in-the-minimum-interprofessional-salary","status":"publish","type":"post","link":"https:\/\/www.gremicat.es\/en\/personal-income-tax-withholdings-are-adjusted-to-the-increase-in-the-minimum-interprofessional-salary\/","title":{"rendered":"Personal income tax withholdings are adjusted to the increase in the minimum interprofessional salary."},"content":{"rendered":"\t\t
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Because of the increase in the amount of the minimum interprofessional wage (SMI) to 15,876\u20ac per year, Royal Decree 142\/2024, of February 6, has been approved, which amends the Personal Income Tax Regulations to prevent taxpayers who receive the SMI from having to withhold withholding or payment on account.\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Because of the increase in the amount of the minimum interprofessional salary (SMI) to 15,876\u20ac per year, Royal Decree 142\/2024, of February 6, has been approved, which amends the Personal Income Tax Regulations to prevent taxpayers who receive the SMI from having to pay withholding or payment on account.\u00a0<\/span><\/p>

The amount of the reduction for obtaining earned income is also increased in order to avoid that the reduction in the amount of the withholding can be converted into a higher differential amount in the annual tax return in case of being obliged to file it.<\/span><\/p>

We inform you that Royal Decree 142\/2024, of February 6, has been published in the BOE of February 7, <\/span>in force and effective as from February 8,<\/span> which has modified the IRPF Regulation (RIRPF) regarding withholdings and payments on account.<\/span><\/p>

Because of the increase in the amount of the minimum interprofessional wage (SMI) to \u20ac15,876 per year, the legislator modifies the rule to prevent taxpayers who receive the SMI from paying withholding or payment on account.<\/span><\/p>

The amount of the reduction for obtaining earned income is also increased to avoid that the reduction in the amount of the withholding can be converted into a higher differential amount in the annual tax return in case of being obliged to file it.<\/span><\/p>

The main objective of the amendment is the increase of the minimum amount to make withholdings from 15,000 euros to 15,876 euros, which will allow that those who receive the SMI in 2024 will not have to pay withholdings for this tax. Likewise, to avoid the corresponding error of jump in the tax rate, the measure is extended to taxpayers with net income from work of up to 19,747.5 euros per year, who will see their withholdings or payments on account reduced.<\/span><\/p>

  1. Quantitative limit excluding the withholding obligation<\/b><\/li><\/ol>

    To avoid that the workers who receive the minimum wage are subject to withholding or payment on account, <\/span>with effect from February 8, 2024<\/span>, the new amounts of the earned income from which withholding and payment on account are made are established, depending on the number of children and other descendants and the situation of the taxpayer.<\/span><\/p>

    For the purposes of the application of the provisions of the above table, children and other descendants are understood to be those that give right to the minimum amount for descendants provided for in article 58 of the Personal Income Tax Act.<\/span><\/p>

    Regarding the taxpayer’s situation, this may be one of the following three situations:<\/span><\/p>

    1. Single, widowed, divorced, or legally separated taxpayer. This is the single, widowed, divorced or legally separated taxpayer with descendants, when entitled to the reduction established in article 84.2.4.\u00ba of the Personal Income Tax Law for single-parent family units.<\/span><\/li>
    2. Taxpayer whose spouse does not obtain income over 1,500 euros, excluding exempted income. This is the married taxpayer, and not legally separated, whose spouse does not obtain annual income more than 1,500 euros, excluding exemptions.<\/span><\/li>
    3. Other situations, which include the following:<\/span><\/li><\/ol>