Tax changes

Tax changes

Tax-exempt sports activities

A new exemption from tax and social contributions was regulated by Law 34/2023. This provides that subscriptions for sports activities paid by employers are not taxable up to an annual limit of 400 euros. The benefit will be included in the list of salary advantages for which the ceiling of 33% of the gross employment salary also applies. The law will enter into force in February 2023.


Reduced VAT for photovoltaic panels and heat pumps

The reduced VAT rate for photovoltaic panels and heat pumps was introduced by Law 39/2023. The Law provides the decrease from 19% to 5% of VAT rate for the delivery of heat pumps, photovoltaic panels and solar thermal panels. The law amends article 291 para. (3) of the Fiscal Code.

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