Ayuso will deflate personal income tax so that Madrid residents do not see themselves "hanged" by taxes

The tax battle continues to be the main plot totem of the president of the Community of Madrid, Isabel Díaz Ayuso, who today confirmed the deflation of personal income tax "so that in June the people of Madrid are not hanged by a tax increase.

Thomas Osborne
Thomas Osborne
19 October 2022 Wednesday 04:31
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Ayuso will deflate personal income tax so that Madrid residents do not see themselves "hanged" by taxes

The tax battle continues to be the main plot totem of the president of the Community of Madrid, Isabel Díaz Ayuso, who today confirmed the deflation of personal income tax "so that in June the people of Madrid are not hanged by a tax increase."

Ayuso has advanced the new norm to which the Council of Government of the Community will give the green light this Wednesday in an interview on Antena 3 in which it has resulted in the fact that "the deflation of personal income tax is so that families in the month of June, when they go to make the declaration, since prices go up and inflation goes up, they don't have to be watching how they are hanged by a tax increase".

Fuentes de Sol calculates that the bill will save almost 200 million euros for 3.5 million taxpayers and that it will mainly benefit citizens with lower incomes, with a reduction in the quota of 6.26% for a gross salary of €20,000. In the case of citizens with a salary of 32,600 euros per year, it will be 2.71%, standing at 1.49% for a salary of 90,000 euros.

"These are immediate measures that affect everyone since they will benefit 100% of Madrid taxpayers," he stressed.

Ayuso already announced in September the future implementation of a battery of tax reductions that will benefit almost 700,000 Madrid taxpayers through deductions in personal income tax that will come into force this coming year and that are added to others that the regional government has been applying, such as the reduction of half a point in the autonomous section of this tax or the elimination of own taxes.

Thus, during the last Debate on the State of the Region, the President of the Community confirmed the implementation of three new personal income tax deductions for families, housing and studies.

In the first case, one of 500 euros is created for the care of ascendants over 65 years of age or with disabilities in the family.

People who have rented a house can deduct 10% of the expenses related to renting it, such as conservation and repair improvements, among others.

And in Education, those people who want to pursue a master's, doctorate or degree, and have to request a loan for this purpose, will be able to deduct 100% of their interest.