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New regulations for 2022

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Main tax changes introduced by Law 28/2022, of December 21, to promote the ecosystem of emerging companies

Ley 28/2022, de 21 de diciembre,

de fomento del ecosistema de las empresas emergentes.

PERSONAL INCOME TAX (IRPF)

The Third Final Provision of Law 28/2022, of December 21, introduces the following modifications with effect from January 1, 2023 in Law 35/2006, of November 28, on Personal Income Tax

  1. Earned incomes in kind

    letter f) of article 42.3 of the LIRPF is modified by section Two of the Third Final Provision of Law 28/2022, so that,

    In the case of the delivery of shares or interests to employees of start-up companies, the amount of the exemption increases from 12,000 to 50,000 euros per year. The exemption will also apply when such delivery is a consequence of the exercise of purchase options previously granted to them.

  2. Temporary attribution

    A letter m) is added to section 2 of article 14 of the LIRPF by section One of the Third Final Provision of Law 28/2022 , by virtue of which,

    A special temporary imputation rule is established for work income that is not exempt because it exceeds the amount provided for in the previous point, which allows its imputation to be deferred until the tax period in which certain circumstances occur, and in any case, within a period of ten years from the delivery of the shares or interests.

  3. Valuation of income in kind

    A new letter g) is added in number 1 of section 1 of article 43 by section Three of the Third Final Provision of Law 28/2022, by which,

    A special rule for the valuation of benefits in kind is introduced in order to clarify the value corresponding to shares or interests granted to employees of emerging companies.

  4. Deduction for investment in a new or recently created company

    section 1 of article 68 of the LIRPF is modified by section Four of the Third Final Provision of Law 28/2022, so that ,

    The deduction is increased by raising the rate from 30% to 50% and increasing the maximum base from 60,000 to 100,000 euros.

    The period for subscribing to shares or interests is generally increased from three to five years from the date of incorporation of the entity, and up to seven years for certain categories of emerging companies.

    Furthermore, founding partners of start-ups are allowed to apply this deduction regardless of their percentage of participation in the company's share capital.

  5. Special scheme applicable to employees posted to Spanish territory

    article 93 of the LIRPF is modified by section Five of the Third Final Provision of Law 28/2022, so that,

    Access to the regime is improved by reducing the number of tax periods prior to moving to Spanish territory during which the taxpayer cannot have been a tax resident in Spain from 10 to 5.

    The regime is extended to workers who travel to Spanish territory to work remotely, whether or not ordered by the employer, using exclusively computer, telematic and telecommunications means and systems, as well as to managers of emerging companies regardless of their percentage of participation in the company's share capital.

    In addition, the possibility of benefiting from this special regime is established for the taxpayer's spouse and the taxpayer's children under twenty-five years of age (or whatever their age in the case of disability) or, in the event of non-existence of a marital bond, for the parent of the children, provided that certain conditions are met.

  6. Tax qualification of the income obtained from the management of funds linked to entrepreneurship, innovation and the development of economic activity

    A new Additional Provision fifty-third is added by section Six of the Third Final Provision of Law 28/2022, by which,

    Income from work will be considered to be income derived directly or indirectly from shares, stocks or other rights, including performance fees, which grant special economic rights in certain entities, obtained by the administrators, managers or employees of these entities or their managing entities or entities in their group.

    These returns will be included in the tax base at 50% of their amount, without any exemption or reduction being applicable, when certain requirements are met.