Spain MOF Seeks Comments on Individual Income Tax Base Reductions for Social Security Contributions, Pensions

The Spanish Ministry of Finance and Public Administration Sept. 1 opened a consultation on a draft decree to amend the individual income tax regulation to reflect legislative changes increasing the maximum limit on tax base reductions for social security and pension contributions. The draft decree includes measures that would: 1) allow individual taxpayers to file amended income tax returns for prior years requesting a tax base reduction for excess contributions; and 2) expand the rules on the management and tax inspection of entities that manage pension funds to include pan-European individual pension products. Comments are due Sept. 9. [Spain, Ministry ...