New Treasury measures for homeowners
Finance has introduced a great opportunity for Spanish taxpayers with the extension of tax deductions for energy reforms. This initiative, which will extend until 2026, seeks to promote energy efficiency and allow owners to save on their income statement.
How do tax deductions work?
Deductions offer a reimbursement percentage on investments made in energy improvements. Taxpayers can deduce between 20% and 60%, depending on the type of reform and energy saving. These deductions can be applied to the income tax of individuals (IRPF), which can be a considerable savings.
Types of deductions available
The 20% deduction is for works that reduce a minimum of 7% in the demand for heating and cooling, such as the installation of efficient windows. For reforms that achieve a 30% reduction in non -renewable primary energy consumption, the deduction percentage rises to 40%, with a limit of 7,500 euros. Actions in complete buildings that reach an energy rating ‘A’ or ‘B’ may benefit from a deduction of 60%, with a maximum of 15,000 euros per house.
Requirements to access the deductions
To take advantage of these deductions, it is essential to obtain a certificate of energy efficiency before and after the reforms. In addition, expenses must be paid through electronic means, avoiding the use of cash. The works must begin after October 6, 2021 and can continue until December 31, 2026.
Additional advantages of energy improvements
The reforms not only mean tax savings, but also reduce the energy consumption of homes, resulting in more affordable invoices and a lower environmental impact. In fact, a 149% increase has been observed in the energy rehabilitation of housing, driven by European funds.
Improvement opportunity for your home
The extension of tax deductions until 2026 is a great opportunity for those who want to improve the efficiency of their homes while they achieve significant tax benefits. If you are thinking of reforms, now is the perfect time to take advantage of this Treasury initiative.
