TAX BREAKS: New rules could see savings for parents and students in Spain

Image of a beach in the Malaga resort of Torremolinos. Credit: [email protected]_On

SPAIN’S central government has announced a raft of new tax proposals, including more help for parents.

According to the Tax Agency, this year those receiving maternity and paternity benefits will not have to declare those benefits as part of their personal income.

Working mothers will also be able to deduct up to €1,000 in tax savings for day care expenses if they have children under the age of three.  Large families will also benefit from a tax break of up to €600 a year per child from the fourth child onwards.

University students will be exempt from paying tax on any earnings up to €6,000.

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