Getting closer to year end, it’s time to look into the opportunities and actions which could be taken into account before starting 2018. So, what can you do? Below we have summarized some of the measures to consider:

Pension plans:

The contributions may be deducted up to 30% of the income when the amount does not exceed 8,000 Euros. There are additional exemptions for specific plans which are worth looking at, especially since these contributions can be done just before year end, they do not have to be done during the whole year.

Deductions for new freelancers:

New freelances might be eligible to deduct the 20% of their positive net income, with an annual limit of 100,000 Euros. Some strict requirements need to be fulfilled, but it is definitely worth it.

Deductibility of expenses which are related to the business activity:

If you are a freelancer carrying out a business activity, there are some expenses such as the vehicle, the apartment, supplies, etc. which might be deductible in your personal income tax at least in a portion.

Donations to NGO’s:

The solidarity donations are deductible on a 75% for the first 150 Euros donated and 30% for the rest of the contributed capital, so it might be a good moment to donate some money, and of course it is always a good idea to contribute on solidarity causes.

Our tax department will be very pleased to assist you with any measure which you are considering, please contact us at:

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