Many workers receive a part of their total salary in kind. When we talk about this salary in kind, we are referring to non-monetary remuneration which, however, is also conceived as work income in the eyes of the Treasury. These amounts are taxed in a specific way, although taking into account a series of particularities.
The first thing to know is that there is a limit to this payment in kind: it can only be 30% of the worker’s total gross salary. The reason is that these payments in kind entail a series of tax advantages, since they are exempt from taxation up to certain amounts and, therefore, they do not have to be declared in the Personal Income Tax (IRPF) in the Declaration of the Rent.
The Tax Agency the exclusions for which you do not have to pay as work performance. They are the following:
-The shares or shares of the company itself delivered to the worker and that have an annual value of less than 12,000 euros. These actions must be carried out under the same conditions for all workers, they must be maintained for at least three years and they cannot represent (together with those that may have relatives up to the second degree or spouses) more than 5% of the total.
-The studies arranged by the company for the updating, training or recycling of personnel provided that “they are required by the development of their activities or the characteristics of the jobs, even when their effective provision is made by other people or specialized entities” .
-Restaurant tickets or food vouchers for quantities that do not exceed 11 euros per day per person. Also included here are deliveries of products at discounted prices in canteens, company canteens or social stores.
-Nursery checks: spaces and premises allocated by the company itself or those contracted with duly authorized third parties.
-Premiums or quotas under an insurance contract for accidents at work or civil liability of the worker.
-Sickness insurance for the worker, spouse and descendants, with a limit of 500 euros per year for each one or 1,500 euros per year in the case of people with disabilities.
-Public collective transport services, that is, transport expenses to go from the place of residence to the workplace, provided that the amounts do not exceed 1,500 euros per year.
All amounts above these limits (if the concept has them) must be taxed in personal income tax, just as income from work is taxed, the tax category to which they belong. When making the corresponding withholdings, the Tax Agency takes into account two aspects.
The body, which with which you can get an idea of the withholdings that you may suffer, values variables such as the worker’s salary, the type and duration of your contract or your family situation to opt for one type or another.
It will also be necessary to pay attention to the , which are taxed on the worker’s salary and which depend on the total amount of the salary. These steps are progressive and only affect amounts within your range. They are the following:
-19% up to 12,450 euros.
-24% of the 12,451 to the 20,200 euros.
-30% of 20,201 to 35,200 euros.
-37% of the 35,201 to the 60,000 euros.
-45% of 60,001 to 300,000 euros.
-47% from 300,001 euros.
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