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If you need help with tax models, we’re here to guide you! Here’s a clear breakdown of three key models to get you started. As always, we are here to help, so contact us through our website or at [email protected]!

Don’t Fall Behind: Prepare for 2025 with These Essential Tax Deduction Tips! 💡 As always, we are here to help, so contact us through our website at https://lnkd.in/eN9eVNfi

The Social Security has begun regularizing self-employed workers’ contribution fees, with notifications sent exclusively through its electronic platform, SEDESS, accessible via “Import@ss” or DEHú. Workers must ensure their email and phone details are up-to-date to receive these notices, as no alternative communication channels are available. Once notified, workers can choose to maintain a higher contribution base or accept an adjusted base aligned with their earnings. If no action is taken within a month, the Treasury will adjust it automatically and send the final results. Overpayments will be refunded by April 30, 2025, while underpayments must be settled on time to avoid a 20% surcharge. For assistance, workers can call 91 908 70 67, 901 20 30 40, or use CASIA’s ‘Regularización RETA’ service online.

The government has launched a new phase of the Kit Digital program to support SMEs and self-employed individuals in digitalization. Funded by EU grants, aid ranges from €3,000 to €29,000 depending on business size. Companies with up to 250 employees can apply, with grants scaling by size. Eligibility requires meeting criteria such as SME status, compliance with financial limits, tax and social security obligations, and more. Applications are submitted via the Acelera Pyme platform after a digital assessment. Approved beneficiaries must work with an authorized digital agent to implement solutions. The current phase runs until December 31, 2024, with new segments opening from December 12, 2024, to June 30, 2025.

Need a Fiscal Residency Certificate in Spain? Exactly is here to help you! Here’s what we’ll need to apply for you: 📄 Acceptable Documents (any of the following): • Work contract and payslips • Utility invoices in your name (water, electricity, etc.) • Bank statements showing local purchases in Spain (minimum 6 months) • Padron / Padron Histórico • Residence document • Rental contract or property purchase deed in Spain • Any other document proving your Spanish tax residency Contact us through our website at www.exactly.es for more help!

Last week, Spain’s Social Security opened public consultation on the 2025 contribution order, which introduces significant changes for self-employed workers and businesses with employees. Among the most notable updates are the adjustments to contribution bases and the increase in the Intergenerational Equity Mechanism (MEI). The new contribution bases are divided into twelve income brackets based on net monthly earnings. For example, self-employed individuals earning €670 or less per month will have a minimum contribution base of €653.59, while those earning over €6,000 per month will face a minimum contribution base of €1,928.10. However, the maximum contribution base will be capped at €4,909.50, regardless of income level. Additionally, self-employed workers earning over €1,700 monthly and opting for the minimum base of their bracket will see their contributions increase by €30 per month, equating to €360 annually. In terms of the MEI, the contribution rate will increase to 0.8% of the base in 2025. For self-employed individuals, who bear the full cost, this translates to a total contribution rate of 31.4%. Businesses with salaried employees will also see an increase, with employers covering 0.67% and employees contributing 0.13% of the base. Another significant change is the introduction of the solidarity contribution, set to take effect on January 1, 2025. This measure applies to wages exceeding the maximum contribution base and is designed to fund the pension system. The cost of this contribution will be shared, with employers covering 85% and employees 15%. The percentages applied vary depending on the portion of the salary, starting at 0.92% for wages between €4,909.50 and €5,400.45, 1% for wages up to €7,364.25, and 1.17% for amounts exceeding this threshold. Lastly, businesses will benefit from a 75% reduction in contributions for employees aged 62 or older who are on temporary incapacity leave. This reduction applies to the employer’s contributions for common contingencies during the period of incapacity. Although the order is still in the public consultation phase, experts predict that it will be approved in the coming weeks, with all changes taking effect on January 1, 2025.

A recent decision by Spain’s Central Economic-Administrative Tribunal (TEAC) has introduced new measures allowing Hacienda (the Spanish tax authority) to impose fines automatically if tax information requests go unanswered. While this may seem like a significant shift, for those working with Exactly, there’s no cause for concern. The ruling stems from a case where a company in Andalusia was fined for ignoring three consecutive requests regarding corporate tax information. TEAC established that such inaction is now considered a “serious infraction,” even if no direct harm to Hacienda is demonstrated. What This Means for Freelancers and Small Businesses For self-employed individuals and small businesses, this change reinforces the importance of staying on top of tax obligations. Hacienda has highlighted the importance of responding promptly to notifications. However, if you’re partnering with Exactly, you can rest assured that we proactively manage these tasks for you. Practical Advice • Regularly monitor tax notifications through automated alerts or delegate this task to a trusted tax representative. • Use tax management software to track deadlines and manage obligations efficiently. • Seek professional tax advisory services, especially for complex situations. • Stay updated on tax responsibilities and deadlines. Stay Focused on Your Business The TEAC ruling underscores the importance of good tax management, but with Exactly on your side, there’s no need to worry. Our proactive approach ensures that your tax obligations are met seamlessly, allowing you to focus on growing your business with confidence.

After your first year of being self-employed, your Social Security contributions will be based on your net profit. We’ve got you covered with a simple guide: How it works: Your contribution rate will align with your estimated monthly net profit. For example: • If your estimated monthly net profit is XXXX euros, your minimum monthly contribution will be XXXX euros. • Once the flat-rate period ends, this increases automatically to roughly 298 euros per month. Can you adjust it? Absolutely! Contributions can be modified up to 4 times a year, at the end of each quarter. However, Social Security will regularize your annual contributions based on your actual profit. This means you could get a refund or be asked to pay the difference. Why adjust? For small changes in profit, adjustments aren’t always necessary. But if your income shifts significantly, keeping your contributions up-to-date ensures smoother financial management. Need help? We offer a seamless service to update your contributions for just 30 euros + VAT. Let us handle the paperwork while you focus on your business! Stay informed and in control of your finances with Exactly!

Today, we celebrate Spain’s Constitution Day—a moment to honour the values of equality, freedom, and justice that form the foundation of our society. At Exactly, we are proud to share these principles, supporting entrepreneurs and businesses as they navigate opportunities within a solid and transparent legal framework. Let’s take this day to reflect on the progress made and continue working together toward a prosperous future for all.

The Spanish Congress has reached a preliminary agreement on a fiscal reform that proposes a progressive reduction in the Corporate Income Tax rates for microenterprises. Under this proposal , businesses with annual revenues under €1 million would see their tax rate reduced as follows: 2025 First 50,000€ → 21%. Rest of the profit → 22%. 2026 First 50,000€ → 19%. Rest of the profit → 21%. 2027 First 50,000€ → 17%. Rest of the profit → 20%. With regards small to medium-sized enterprises (SMEs) the progressive reduction will be from the current 25% to 20%, reducing the tax rate 1 point every year. While this reform is pending final approval, it represents a significant potential benefit for small businesses, aiming to enhance their financial flexibility and competitiveness. At Exactly, we are committed to keeping our clients informed about such developments and are prepared to assist in navigating these prospective changes to maximize their advantages. Please note: This information is based on current legislative proposals and may be subject to change. We will provide updates as more details become available.