The Government of Isabel Díaz Ayuso has made available to Madrid taxpayers a calculator that allows them to know how much they will pay for Personal Income Tax (IRPF) in the region, how much they would pay without the current tax reductions in the region and how much they will save compared to other Spanish autonomous communities, reports Efe.
On the official website of the Community of Madrid, after completing a questionnaire on the circumstances of the users (annual gross income, if they come from a public pension, age, number of children and type of declaration), the calculator offers an estimate of the IRPF amount to be paid, how much would it amount to if the successive reductions that the regional Executive has been implementing and the savings they obtain with it had not taken place.
For example, a 40-year-old citizen, with a salary of 35,000 euros, an employee, with two children, one of them under 3 years of age, who presents an individual income tax return, would pay 5,213 euros of personal income tax and 5,583 euros without the tax reductions in force in the Community of Madrid, so that the tax savings for paying taxes in the region amounts to 369 euros, 7%, while in Catalonia you would pay 440 euros more, 8%.
The Minister of Economy, Finance and Employment, Javier Fernández-Lasquetty, explained that with this tool anyone can find out what they pay for personal income tax in the Community of Madrid and how much they save compared to other Spanish regions, which is "interesting and useful" a few days after the start of the rent campaign on April 11.
Lasquetty has highlighted that the Community of Madrid has the lowest personal income tax rates in all of Spain, "an autonomous competence that not all regions decide to exercise".
This new application joins two others that citizens can already use: the inheritance tax calculator, which also offers a comparison of the savings enjoyed by the people of Madrid with respect to state regulations, and the calculator, where do my taxes go? that informs about which public policies the taxes collected by the regional administration are used for.
In total "during the mandate of Isabel Díaz Ayuso in just two years we have lowered taxes twenty times in the Community of Madrid, which means a saving of more than 700 million euros, while the Government of Pedro Sánchez did not lower it even one taxes on the people, but raised them seventeen times," said the head of the Treasury.
An average salary in Madrid has a saving of 250 euros in income tax, 6% over what it would pay without the reductions in income tax that the Community of Madrid has made.
Lasquetty has specified that the commitment to lower taxes that began in the time of Esperanza Aguirre has generated savings of 60,777 million euros in taxes for the people of Madrid in eighteen years, which represents an average of 17,620 euros per taxpayer, of of which a third correspond to the four-year period of the Government of Isabel Díaz Ayuso, in which the people of Madrid have had tax savings of 23,252 million, which implies an average saving of 6,700 euros in taxes in the last four years with Ayuso at the head of the regional Executive.
"The Community of Madrid has shown that this can be done" and has been "more respectful of what each one has earned with their effort and work" without affecting or harming financing or the quality of public services of the regional Administration, affirmed the counselor, who stressed that the collection has continued to increase, something that, in his opinion, will continue to occur in this campaign.
The tax reductions favor that the people of Madrid have more income for savings, consumption and investment, are more free to decide their personal life project and where to allocate the fruit of their work and thus contribute to economic growth, according to Lasquetty.