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Published by Royal Decree to Promote Economic Recovery and Employment, with measures of interest for Local Governments
The Official State Bulletin (BOE) published on 13 April, the Royal Decree on Measures to Promote Economic Recovery and Employment, approved by the Government in the last Council of Ministers, that includes several measures of interest that affect the management of local governments.
Boost for housing rehabilitation
The Royal Decree includes a set of reforms aimed at restoring the activity in the construction sector via mainly the fiscal impulse for the rehabilitation of homes, contributing also to the efficiency and encouraging energy savings and increases in employment levels and activity of a sector particularly affected by the crisis.
In this chapter includes the creation of a new temporary income tax deduction for the improvement works in the main residence to be made until December 31, 2012, always aimed at, among others, improving efficiency energy, the replacement of plant supplies or infrastructure development that promote accessibility. Allow deduction of the 10 100 of the amount invested, with a maximum annual limit of four thousand euros, to taxpayers whose tax base is less than 33,007 euros, and will be phased up to 53007.20 euros of taxable income. The limit for each year of validity of the standard is twelve thousand euros per household.
On the other hand, provides for the application of a reduced VAT rate for all types of renovation and home repair made until December 31, 2012. It also expands the concept of structural rehabilitation, both in the VAT, as in the Canary Islands General Indirect Tax, through the definition of similar works and related to structural, thereby reducing the tax costs of this activity.
Land Law
Regarding the Land Law, provides for applying an adjustment factor related to market prices in the valuation of agricultural land and to extend until the end of 2011 the applicability of the previous legislation on the valuation of developable land defined as, among other measures.
Protecting citizens
The initiative places special emphasis on protecting the most vulnerable segments of society most exposed to the crisis. To try to advance this objective raises the threshold unseizability established in the Civil Procedure Act in cases where the price obtained for the sale of the mortgaged main residence is insufficient to cover the secured creditor. This threshold is raised by 10 100 over the current, set at the minimum wage, and increases by 20 100 for each additional household member who does not have its own regular income, salary or pension.
Super-reduced rate of VAT
Moreover, imposing a super-reduced VAT rate of 4 per 100 for care services provided by companies dependent integrated within the public system of Autonomy and Care for the Unit through concerted positions in centers or homes or through prices arising from administrative competitions. They include telecare services, home help, day center and residential care night.
The Royal Decree includes a set of reforms aimed at restoring the activity in the construction sector via mainly the fiscal impulse for the rehabilitation of homes, contributing also to the efficiency and encouraging energy savings and increases in employment levels and activity of a sector particularly affected by the crisis.
In this chapter includes the creation of a new temporary income tax deduction for the improvement works in the main residence to be made until December 31, 2012, always aimed at, among others, improving efficiency energy, the replacement of plant supplies or infrastructure development that promote accessibility. Allow deduction of the 10 100 of the amount invested, with a maximum annual limit of four thousand euros, to taxpayers whose tax base is less than 33,007 euros, and will be phased up to 53007.20 euros of taxable income. The limit for each year of validity of the standard is twelve thousand euros per household.
On the other hand, provides for the application of a reduced VAT rate for all types of renovation and home repair made until December 31, 2012. It also expands the concept of structural rehabilitation, both in the VAT, as in the Canary Islands General Indirect Tax, through the definition of similar works and related to structural, thereby reducing the tax costs of this activity.
Land Law
Regarding the Land Law, provides for applying an adjustment factor related to market prices in the valuation of agricultural land and to extend until the end of 2011 the applicability of the previous legislation on the valuation of developable land defined as, among other measures.
Protecting citizens
The initiative places special emphasis on protecting the most vulnerable segments of society most exposed to the crisis. To try to advance this objective raises the threshold unseizability established in the Civil Procedure Act in cases where the price obtained for the sale of the mortgaged main residence is insufficient to cover the secured creditor. This threshold is raised by 10 100 over the current, set at the minimum wage, and increases by 20 100 for each additional household member who does not have its own regular income, salary or pension.
Super-reduced rate of VAT
Moreover, imposing a super-reduced VAT rate of 4 per 100 for care services provided by companies dependent integrated within the public system of Autonomy and Care for the Unit through concerted positions in centers or homes or through prices arising from administrative competitions. They include telecare services, home help, day center and residential care night.
