2024 Income Tax and Wealth Tax Campaign
It's that time of year again. April kicks off the Income Tax and Wealth Tax Campaign, which will end on June 25 in Araba and on June 30 in Bizkaia and Gipuzkoa.
As in previous years, on the occasion of the Campaign, we have prepared this Tax Newsletter, which summarizes the most relevant aspects to consider when preparing the tax returns.
We do not want to miss the opportunity to remind you that accumulation products, such as investment funds, and, with them, portfolios of funds, continue to be very efficient for the management of financial investments, to the extent that they allow the payment of Income Tax (IRPF) to be deferred and contribute to reducing the Wealth Tax (IP) rate by applying the IRPF-IP joint taxation limit.
The time has come to declare Income and Wealth Taxes, and when applicable, the Solidarity Tax on High Net Worth Individuals. This period offers an opportunity to reflect on the most efficient investment strategies for optimizing tax obligations related to these taxes.
Jesús Muñoz García
Director of Asset Planning
BBVA Private Banking