The panorama of electric cars in Spain is being shaken by new tax measures that seek to encourage their acquisition. In an effort to promote sustainable mobility, the Government has launched an initiative that allows these vehicles to be included in tax relief, opening a door to potential buyers.
During the period between June 30, 2023 and December 31, 2024, buyers of electric vehicles will be able to benefit from a 15% discount on their income tax return, calculated on the purchase price, with a maximum of 20,000 euros. This measure, included in the Moves III Plan, aims to promote the adoption of cleaner and more environmentally friendly mobility.
However, there are certain criteria that vehicles must meet to be eligible for this deduction. For example, they cannot be used for economic activities and must be registered for the first time in Spain before the specified deadline.
The deduction is calculated on the total acquisition value of the vehicle, taking into account the costs and taxes associated with the purchase, with a maximum limit of 20,000 euros. This tax benefit is implemented during the tax period in which the car is registered.
The option of accessing the deduction through partial advance payments for the acquisition of the vehicle is also contemplated, as long as they reach at least 25% of the total value. However, the remaining payment and the purchase of the car must be completed before the end of the second tax period after the initial disbursement.
These measures seek to boost the electric vehicle market in Spain, which currently represents only a small percentage of total car sales. With the implementation of these tax reliefs, it is expected that more citizens will decide to opt for electric mobility, thus contributing to the reduction of emissions and caring for the environment.
