What taxes do electric cars pay in Spain?

Is it true that electric cars pay less taxes?

He electric car This represents an interesting paradigm shift in the automotive industry. At first, only those who dared to use these vehicles early adoptersadventurers committed to innovation who experienced the enormous benefits of these vehicles before anyone else. They had to deal with the first cars with little autonomy, but they noticed savings when it came to kilometers traveled.

However, growing concerns about climate change and the need to reduce greenhouse gas emissions have changed the situation dramatically. The electric car has ceased to be a technological curiosity and has become a priority for many governments. That’s why they were implemented tax benefits in countries such as Spain to promote its adoption.

We don’t know how long these tax advantages will last. However, given that the sales targets for these cars are not being met in our country, it is expected that they will be maintained in the coming years. In these lines we will tell you What taxes are paid and what are not if you have an electric car?.

Legislative framework for electric vehicles in Spain

The legal basis for tax incentives for electric vehicles is found in various regulations. In fact, the same rules will not apply throughout the entire territory, since there are regional laws and regulations that may differ in each specific case. This laws and regulations

What to pay attention to in general:

• Motor Vehicle Tax Act (IVTM): which establishes bonuses for electric vehicles, but is not eliminated completely.
• Law Value added tax (VAT).
• Law Registration tax.
• Royal Decree 294/2013: known as Comprehensive strategy for promoting electric vehicles.
• Autonomous laws.
• Municipal regulations.

Taxes paid by electric cars in Spain

At the moment this is taxes you will have to pay If you become the owner of an electric car:

Value added tax (VAT)

It doesn’t matter whether you buy an electric car or a car with an internal combustion engine. Until now, in both cases you will have to pay the same VAT. He applies general rate 21%and is calculated from the sales price of the car without taking into account other taxes.

In Spain There has been speculation about the idea of ​​cutting the tax on electric vehicles.as other European countries have done. However, the idea has not yet been implemented. Among other reasons, one of the main ones is that it will be a highly controversial measure.

the only ones exceptions to this rule will be in the following cases:

• Definite people with certain types of disabilities They can buy an electric car with 4% VAT. In this post you will find more information about discounts and disability benefits when purchasing a car.
• professionals All VAT can be deducted regardless of whether the car is electric or not. To achieve this, the use of the vehicle must be entirely dedicated to economic activity.
• When the car is intended for professional and private useYou can deduct up to half of this tax.
• In the case of fleets, companies purchasing electric vehicles can fully deduct VAT if they meet the necessary requirements.
• Finally, ambulances, medical vehicles, service vehicles and buses They are accompanied by a reduced VAT of 4%.

Tax on motorized vehicles (IVTM)

That is what we know how “Road Tax”

. This tax causes some confusion because many people think they will get rid of it if they buy an electric car.

As you well know, road tax varies in each municipality in Spain. electric cars They are not exempt from paying italthough it is true that many municipalities have significantly reduced the amount to encourage the purchase of electric vehicles.

Property Transfer Tax (ITP)

The latter only applies to us if we are going to buy an electric car. used. Typically, this tax is applied by calculating the transfer value of the vehicle and applying the tax rate.

Depending on the autonomous community, the payment amount may vary. As for electric vehicles, we will not have special tax benefits in this tax. However, there are certain territories where a lower tax rate applies to these vehicles. In any case, today there are no complete exceptions.

Taxes that electric cars don’t pay

Finally, we’re going to look at taxes we won’t pay to buy a new electric caras well as the most important tax deductions that we can take advantage of if we plan to purchase a battery-powered car:

Registration tax

The main incentive to buy an electric car is that we will not have to pay the special mode-specific tax (IEDMT), i.e. tax we pay for registration.

Electric vehicles are currently completely exempt from registration tax. We will pay nothing for this concept when you purchase and register a new electric vehicle, which is significant savings compared to a car with an internal combustion engine.

The exception does not only apply to electric vehicles. This also applies to electric vehicles. extended autonomy and fuel cell vehicles.

Personal income tax deduction when purchasing an electric car

Although personal income tax has little to do with electric vehicles, the Internal Revenue Service has launched an electric vehicle incentive program that allows taxpayers to deduction of up to 15% on the purchase of an electric car.

Deduction applicable to vehicles purchased between June 30, 2023 and December 31, 2024

sets a maximum limit of €20,000 as the franchise base. This means you can save up to €3,000 on your tax return.

In any case, you must follow the rules requirements To take advantage of the personal income tax deduction:

• The vehicle must be designed for private use. It does not apply to self-employed workers and small businesses.
• The cost of the car cannot exceed levels set by MOVES III program (limit 50,000 euros).
• The plan can even be applied before final car purchaseprovided that it is completed within the next two years.
• He vehicle must be a passenger car (M1), light quadricycle (L6e), heavy quadricycle (L7e) or motorcycle (L3e, L4e and L5e).

Finally, since we mentioned MOVEMENTS, we leave you with a link to the article so that you know what kind of help you can request for purchasing an electric car.

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