Is the amount of money I receive gross or net?

Time is running out to request €200 aid from the government for the most vulnerable families to deal with inflation. Specifically, the last day to apply for this assistance is Friday, March 31st There are some doubts about its collection, including whether the amount to be collected is gross or net.

The IRS determines that the payment will be received through wire transfer. Therefore, it is necessary to indicate a bank account owned by the applicant in order to repay the assistance. In this way, those who have agreed to help will receive it 200 euros in full through a single payment.

As the IRS states, “The term for assistance entry is Calculated 3 months From the expiration date of the deadline for submitting the form. Therefore, since the last day of the deadline for requesting assistance is March 31, 2023, the deadline for entering it will be June 30, 2023.

Is the €200 help taxable?

However, many of the uncertainties that arise relate to income taxes for this assistance. As defined by the Department of the Treasury, it is a taxable aid on the personal income tax return for the year in which it is collected as Capital gains are included in the general taxable tax base. That is, if it was collected in 2023, it will have to be announced in 2024.

But this fact does not oblige those who receive such assistance to issue an income statement. The assistance is not taxed as business income, but is a capital gain.

According to Article 96.2 of the Personal Income Tax Code, it is not necessary to declare “full income from work up to 22,000 euros per annum” if there is a payer. In this sense, the “capital gains from public aid, with The common limit is 1,000 euros annual” She is also exempt.

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Requirements for requesting assistance are 200 euros

Among the requirements to obtain it is to have a full income of less than €27,000 per annum and have assets of less than €75,000 per annum. Income and assets will be calculated jointly with your spouse or partner, and with assets up to the second degree living at the same address. In addition, you must have a habitual residence in Spain.

These may also be received registered as unemployed In the employment office, whether or not they are receiving benefits or unemployment benefits and those who Carrying out an activity on their own behalf or on behalf of others They are registered with the corresponding social security or mutual insurance scheme

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