The PSOE has registered in the Congress of Deputies a proposal to reform the Corporate Tax Law so that tax benefits are granted to companies, companies or investment funds that allocate their homes to social or affordable (cheap) rentals.
This proposal appears included in an amendment that the PSOE has registered to the law to transpose a European directive on cryptocurrencies. The amendment proposes that an additional provision be added to the 2014 Law on Corporation Tax to decree the “exemption of income derived from the transfer of properties intended for affordable or social housing”, as stated Europe Press.
The reform would be retroactive from January 1, 2025 and proposes exempting from the tax positive income that has been obtained with the lucrative transfer of real estate that is destined for the affordable housing or social rental policies of the Ministry of Housing and Urban Agenda.
The amount of losses due to deterioration of the properties are not part of the income with the right to exemption, nor are the amounts corresponding to the reversal of the excess depreciation recorded.
Promote the supply of public housing
The content of this amendment, to which the aforementioned media has had access, explains that the measure aims to promote the promotion of an adequate supply of public housing. In this way, the needs of the real estate market are responded to, allowing those who have more economic or social insertion problems to have mechanisms that facilitate their entry into the real estate market.
For this reason, an exemption would be established for income derived from lucrative transfers of real estate that is intended for social rental at an affordable price, so that the supply of short-term housing is increased, helping to satisfy demand.