Company Tax Articles

Yet more anti tax fraud measures for Spain - the M720

Miguel Ángel Blanca Prieto 31 January 2013

2012 proved to be one of the most exhausting years in terms of the amount of new law. New tax regulations were certainly one of the main focuses for the Government. The so called "tax amnesty" was especially significant and the Government claimed that this scheme, which expired on 30 November 2012,...

The new international disclosure rules

Alistair Spence Clarke 07 December 2015

A little of the background: The new system, the Standard for Automatic Exchange of Financial Account Information is being developed by the OECD in conjunction with the G20 and the EU. This is now referred to as the The Common Reporting Standard or CRS. It derives from the successful US anti-tax fr...

Taxing a rent free commercial property

Miguel Ángel Blanca Prieto 27 November 2015

As he is your child and you don’t need the money, you are letting him have the premises entirely rent-free. This altruistic gesture is good news not just for your son, but also for the Spanish economy—after all he will be employing staff who will all pay taxes and social security contrib...

Property owning companies: Don't trust the bar stool experts!

Alistair Spence Clarke 12 November 2015

In fact such ‘bar stool experts’ offering dubious advice still exist—although it is highly doubtful that they are in fact legal experts. It is more likely some unnamed distant relative or ‘friend’ (multi-millionaire, rich as Bill Gates don’t-cha-know) is the one t...

Paying Company directors what they are worth

Alistair Spence Clarke 26 November 2015

It was even more unedifying when directors at some banks, which had accepted hundreds of millions of Euros in bailout funds, pulled the same trick. The perception of the leaders of badly run businesses enriching themselves and leaving the taxpayer and shareholders to pick up the tab has led to outra...

Spanish Tax Treaties Changes - a taxing trend for foreigners

Claudia Vargas Puccio 30 October 2013

Double Tax Treaties are bi lateral, supranational laws that regulate the way that foreigners are taxed on assets and income of the other country. Generally speaking where both countries seek to impose tax the tax treaty will override, so that a person does not pay tax twice on the same income/asset....

New tax incentives for property purchase in Spain

Alistair Spence Clarke 09 July 2012

The Spanish banks have been ordered by Government to reduce the values of the properties they have acquired from bankrupt developers and defaulting owners. As the banks have now taken the losses into their balance sheets, the prices demanded by the banks for Spain's massive unsold stock of property ...

Tax Office Fights Against Tax Evasion

Alistair Spence Clarke 07 April 2010

In the Spanish system 'substantial tax fraud' is defined as a single tax offence that results in tax not being paid that exceeds 120,000€. Over this limit the tax fraud offence is subject to the Penal Code but under this limit the consequences are limited to fines and interest which are usually seve...

Possible Revolutionary New VAT Law for Small Businesses

Alistair Spence Clarke 07 May 2010

All the political parties have backed a proposed change in law to modify the current VAT law for smaller self employed businesses and companies, so that their VAT payment to the tax office will only take account of sales invoices that are actually paid by their clients. If this revolutionary propos...

Will Rajoy Have What it Takes After the Spanish Elections on Sunday?

Alistair Spence Clarke 18 November 2011

On Sunday, the Partido Popular, the centre right political party is expected to romp home with an overall majority of the 350 member Congress of Deputies, Spain's lower legislative house. The newspapers predict that the elections, that use the d'Hondt system of proportional representation, will giv...