Personal income tax return campaign starts today with undeflated rates that will knock another point off Spanish incomes

spain tax collection

Taxpayers face the 2022 income tax return campaign that starts today with the decrease in real salary caused by the generalised rise in prices (8.5% in 2022) and the cold progressivity of the Personal Income Tax (IRPF), that is, what they are going to have to pay extra for the rise in salaries, despite having a lower real salary.

Deflating the personal income tax brackets by 8.5% to adjust them to the loss of purchasing power of workers would alleviate between 210 and 250 euros in the declaration of an average salary (25,000 euros), practically 1% of their income, according to estimates by the IEE.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.