The president of the Generalitat Valenciana, Carlos Mazón, announced six new tax deductions for residents of the region. These deductions, which apply to the regional income tax, can save taxpayers up to €150.
Those apply on individual incomes of up to 33,000 euros and joint incomes of up to 48,000 euros , who can benefit in the Valencian Community.
The deductions are for:
- Sports and healthy activities: This deduction is for expenses related to sports and other healthy activities, such as gym memberships, sports equipment, and fitness classes.
- School supplies: This deduction is for expenses related to school supplies, such as books, computers, and uniforms.
- Home improvements: This deduction is for expenses related to home improvements, such as energy-efficient appliances, insulation, and repairs.
- Renting a home: This deduction is for expenses related to renting a home, such as rent, utilities, and property taxes.
- Buying a home: This deduction is for expenses related to buying a home, such as mortgage interest, property taxes, and closing costs.
To qualify for the deductions, taxpayers must have a taxable income below a certain threshold. The deductions are also subject to certain other restrictions, such as the requirement to provide receipts for all expenses.
The deductions are effective for the 2023 tax year and can be claimed on the 2024 tax return.
The law says, you need to keep your invoice and also electronic payment, no cash payments are possible for this deductions.
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