On 29 May 2018, the Governing Council of the Community of Madrid
approved the draft law on tax measures for the Community of Madrid
for 2018
The draft contains important measures relating to Personal
Income Tax, Inheritance and Gift Tax, and Transfer Tax and Stamp
Duty, which are summarized below:
1. Personal income tax:
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Deduction for birth (entered into force
1/1/2018)
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- 600€ per year, for 3 years, for children born or adopted
from 1/1/2018 onwards. Taxpayer's income limit: 30,000€ in
individual taxation or 36,200€ together, not exceeding
60.000€ per family unit.
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Deduction for housing rental (effective
1/1/2018)
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- People under 30 years of age may apply a 30% deduction on
amounts used to rent their home, subject to a limit of €1,000.
Also, those who are not older than 40 years, provided they have
been unemployed for more than 6 months and have two dependents. The
income received may not exceed 25,620€ in individual taxation
and
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