NEWSLETTER I FISCAL TAX - Cuatrecasas

Decree no. 426-A/2012 of 28/12
This Decree approves the official model of the declaration to communicate the elements
of invoices by electronic data transmission, under al. d), paragraph 1 of article 3 of the
Decree Law no. 198/2012 of august 24.
Decree no. 426-B/2012 of 28/12
This Decree approves the receipt invoices models’ for the purposes of article 115 of the
Individual Income Tax Code.
II STATE BUDGET LAW FOR 2013
On the 31st of December, Law No. 66-B/2012, that approves the State Budget for 2013,
was published in the Official Journal.
We identify the main changes to direct taxes (IRS and IRC) that the State Budget for
2013 will introduce.
Personal Income Tax (IRS)
Category A income: it is proposed the elimination of the specific deduction of expenditure
on professional training and the rules on the granting of daily allowances - v.g. the
increase of the distance of daily trips and for consecutive days from 5km to 20km and
from 20km to 50km, respectively - will be amended.
The remuneration received by Members of the European Parliament will be subject to
IRS.
Category B income: it is foreseen the amendment to 75% of the coefficient for the
determination of the taxable income for services with regard to the simplified taxation
regime.
The State Budget Law also makes the possibility of opting for the organized accounting
regime until 30 January 2013.
Category F income: stamp duty paid on the value of real estate properties will be
deductible for IRS purposes, provided that the rental income is aggregated.
Tax brackets will be reduced from 8 to 5 with the consequent change of the applicable
rates.
A 3.5% surcharge is introduced, similar to the one that was imposed in 2011.
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