ICONOS FINALES-TRAZADOS

BASQUE COUNTRY: New deduction for corporate contributions to preferred social security plans

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Learn about the new deduction in Corporations for corporate contributions to preferred social security plans

BASQUE COUNTRY: New deduction for corporate contributions to preferred social security plans

Corporate contributions to preferred social security plans integrated into voluntary social security entities (EPSV) entitle to a deduction in the net tax liability. Let's see what it consists of:

What is the basis of the deduction?

It is the sum of the contributions fiscally attributed to workers resulting from collective bargaining.

What is the amount of the deduction?

It depends on the percentage that the corporate contributions fiscally attributed represent on the total annual gross salary in the employing entity:

  • 15%, if they are ≥ 1. 5% and < 2. 5%.
  • 20%, if they are ≥ 2. 5% and < 4%.
  • 25%, if they are ≥ 4% or if they are made on behalf of individuals under 36 years old.

What happens between 2025 and 2029?

For tax periods starting between 1-1-2025 and 31-12-2029, to promote a progressive implementation of the system when the minimum requirements are not met; that is, if corporate contributions are less than 1. 5% of the total annual gross salary of the employing entity, you should know that you will be able to apply a deduction of 10%.

 

Our professionals will explain in detail the new deduction and help you apply it.

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