Sustainability reaches businesses: these are the main tax incentives for taking care of the environment
A few weeks ago, the Spanish Congress approved the first climate law to eradicate greenhouse gases by 2050 and the government proceeded with the presentation of the Spain 2050 study, a series of measures that once reveal moreover, the decisive and necessary advances in this area. June 5 marks World Environment Day, a date that recalls individual responsibility in preserving our planet.
There are many things we can do on a daily basis that have a direct impact on sustainability, but also on our portfolio. Only one month after the end of the mandate to file the Income Tax Return, it is necessary to know taxpayers There are a large number of tax deductions on the income of unknown individuals that can save up to 1,000 euros. From TaxDown, the tax experts and creators of Spain’s first digital tax filing solution, reveal how Spaniards can contribute and protect the planet through tax rulings while saving money on their income.
Regarding the mobility segment, the Spanish government supports taxpayers who bet on energy-efficient cars with 15% when it comes to vehicles meeting official CO2 emission limits; 20% in the case of hybrid vehicles powered by internal combustion engines that can use alternative fossil fuels (autogs, LPG and Natural Gas); and up to 30% in the case of battery electric vehicles (BEV); extended autonomy (E.REV); and plug-in hybrid electric vehicles (PHEVs).
On the other hand, it is becoming more frequent every day to carry out reforms in housing aimed at improving energy efficiency, hygiene, health and environmental protection, the use of renewable energies, safety and waterproofing, and in particular the replacement of electricity, water, gas or other supplies. A portion of which 20% can be deducted.
The deductions in terms of sustainability vary according to the Autonomous Community, in fact not all of them have applied these initiatives proactively and are excluded from the list: Andalusia, Balearic Islands, Cantabria, Castilla La Mancha, Extremadura, Madrid, Basque Country and also the cities of Ceuta and Melilla.
On the other hand, nine Autonomous Communities have launched resolutions to encourage taxpayers to reduce CO2 emissions and polluting practices, such as Valencia and Murcia, which encourage their citizens to adhere to efficient consumption either with electricity at home. either with donations, as well as La Rioja, which promote sustainable mobility in order to reduce pollution levels.
With this, TaxDow’s tax experts explain in detail how the following regions have applied environmental deductions to contribute to a greener future while saving money:
Catalonia: If you are a tax resident in Catalonia, you can apply a deduction of 15% of the sums donated to entities related to ecology and the protection and improvement of the environment. Principality of Asturias: This Community envisages a deduction of 30%, with a maximum of 1000, for the certification of sustainable forest management. Aragn: Offers a deduction of 20% of the amount of donations made to entities whose object is the defense and conservation of the environment. Canary Islands: Taxpayers can opt for a deduction of 10% up to the maximum limit of 150 euros, thanks to donations for ecological purposes for energy rehabilitation works. Castilla y Len: They provide for a deduction of 15% for investments in environmental installations (solar panels, improvement of thermal installations, implementation of saving mechanisms). Galicia: It benefits from a 5% deduction for investments in air conditioning and / or domestic hot water installations using renewable energies in the habitual residence and intended exclusively for self-consumption; For energy efficiency improvement work in residential buildings or single-family homes. Murcia: In this community there is a deduction of 20% for investments made in devices for saving domestic water and for investments in installations of renewable energy resources (solar thermal, photovoltaic and wind). La Rioja: Its main objective is mobility, with a deduction of up to 15% for the purchase of new electric vehicles and for the purchase of unassisted pedal bikes. Valencian Community: offers a deduction of up to 20% for investments in installations for self-consumption of electrical energy or intended for the use of certain renewable energy sources in the homes of the community, as well as for the share participation in investments in collective facilities where the houses are located. In addition, they include donations for ecological purposes.
“The tax return has behind thousands of goals that are not fully known to taxpayers, such as environmental deductions constitute 5% of the total, which amount to over 200. From TaxDownt we are working to simplify this process and offer all the information necessary for Spaniards to save as much as possible on their income ”, explains Enrique Garca, CEO and co-founder of TaxDown.