The 2025 General State Budget introduces significant tax changes, with direct implications for large companies, SMEs, and taxpayers. Below, we outline the key points that could affect your fiscal and financial planning.
For companies:
◾️ Minimum 15% Corporate Income Tax rate for large companies (turnover >€750M).
◾️ Review of tax deductions, which could increase the taxable base.
◾️ End of the reduced VAT on electricity and basic foodstuffs.
◾️ New bank tax on income from interest and fees.
◾️ Increased control over VAT fraud (especially hydrocarbons).
For taxpayers:
◾️ Possible increase in personal income tax (IRPF) for high incomes (>€300,000).
◾️ Increase of the tax-free allowance for lower incomes.
◾️ Price increases due to the reversal of reduced VAT.
◾️ Mandatory waste tax in more municipalities.
◾️ Extension of energy efficiency deductions and tax benefits for people with ALS.
The measures in the 2025 General State Budget aim at a clear goal: increasing revenue while ensuring a more progressive taxation system. The impact will be greater for large companies and high incomes, although the measures will also affect consumption and expense planning for all taxpayers. Casals Abogados recommends reviewing their publication in the Official State Gazette (BOE) for a complete assessment.
