The Community of Madrid has generated tax savings for Madrid residents of 74,883 million euros since the first tax cuts were approved in 2004, that is, 20,800 euros per taxpayer.
"Since that year, the different Madrid governments have continued a fiscal policy based on low taxes in which all regional management taxes have been lowered on several occasions, without raising any," sources from the Ministry of Economy have highlighted. Treasury and Employment informs Europa Press.
Likewise, they have recalled that six reductions have been carried out on the regional scale in the Personal Income Tax (IRPF), including the two deflations (2007, 2014, 2015, 2018, 2022 and 2023).
On the other hand, new deductions have been created and existing ones have been expanded, related to the birth or adoption of children, educational expenses, rental of a primary residence, large families or the care of elderly or disabled people in the family environment, among other. All these measures have generated savings of 10,899, of which 5,761 have occurred since 2019.
The regional Government has also highlighted that the Community has approved in recent years different measures in the Inheritance and Donation Tax, which is currently subsidized at 99% between first and second degree relatives included in groups I and II, and 25% for third degree among second or third degree collaterals due to consanguinity.
"The total savings for this tax is 49,781 million, of which 19,802 have been generated since 2019. Likewise, reductions have been carried out in the Tax on Property Transfers and Documented Legal Acts," they have detailed from the Ministry that directs Rocío Albert.
The same sources have recalled that the president, Isabel Díaz Ayuso, has approved a total of 22 reductions through eight laws (one of them in process, referring to the deduction for new taxpayers), such as the half-point reduction in all sections of the autonomous scale of the IPRF, said tax has been deflated on two occasions and 13 deductions have been implemented or expanded.
Furthermore, in the Inheritance and Donation Tax, fostered and supervised minors have been equated with descendants and adopted children, and the bonus between siblings and between uncles and nephews has been expanded and unified to 25%. All taxes have also been eliminated, making Madrid the only common regime region without this type of taxes.
